Arab Banking Corporation signs initial contract to acquire BLOM Bank Egypt
Published 06 Dec,2020 via Daily News Egypt - Daily News Egypt has learned that the Arab Banking Corporation (ABC) has signed a preliminary contract with BLOM Bank to close the acquisition of its Egypt operations.
The banking authorities in both Egypt and Lebanon have been informed of these developments, in preparation for the final contract’s signing soon.
The sources added that expanded meetings were held last week at the level of senior leaders and branch managers at BLOM Bank Egypt, to discuss the bank’s new strategy under the acquisition process.
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