Egyptian central bank to sell bank stake
Farouk al-Okdah, governor of the Central Bank of Egypt, told reporters that the central bank intends to sell its minority stake in British Arab Commercial Bank (BACB).
The bank was formed in London in 1972 as a wholesale bank providing trade and project finance for Arab markets.
This is the third bank sale announced in a week in Egypt. Stakes in Egyptian banks have regularly been divested over the past few years in efforts to consolidate the banking sector.
The central bank has played a leading
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