BNP Paribas rumoured to be selling Egyptian arm
France’s biggest listed bank, BNP Paribas, may be looking to sell its Egyptian retail banking operations, according to Reuters.
The news agency said “two banking sources” informed it that BNP intends to shore up its capital base and sell non-core operations, such as those in Egypt. Reuters added that one source said the company could make as much as $400m if the sale goes through.
A spokesperson for BNP Paribas would not confirm whether or not it is looking to sell but said the company “would examine any expressions of interest”.
Reuters said one of the sources suggested Qatar National Bank, the largest lender in the Gulf Arab state, is one of the parties to have expressed initial interest.
The sources were not named as the matter is not public.
EGYPT NEWS
Video
Spot Lights
AFPTurkish Prime Minister Recep Tayyip Erdogan rallies supporters after riot police again clash with thousands of anti-government demonstrators in a second week of nationwide unrest.Three people have died in the protests against Erdogan and his Islamic-leaning Justice and Development Party (AKP), in power since 2002.Following are the main events of the past days:- May 28: A peaceful local protest
AFPTurkish Prime Minister Recep Tayyip Erdogan is facing one of the biggest challenges of his decade in power with anti-government protests that critics say have exposed growing discontent with his increasingly authoritarian and conservative agenda.Here are the key events since Erdogan's Islamist-rooted Justice and Development Party (AKP) assumed power in the predominantly Muslim but staunchly
AHRAM ONLINEFounders of Egypt’s 'Rebel' campaign, a newly established movement that aims to withdraw confidence from President Mohamed Morsi by collecting citizens' signatures, spoke at an open forum on Wednesday to discuss the campaign, which has recently gone viral online and on the streets.'Rebel' campaigners hope to collect 15 million signatures and hold a mass sit-in on 30 June –
BBC SportWhen it's put to him that he might be the most talented athlete in the world to hold a racquet, a bashful Ramy Ashour admits "that's pretty great".The 25-year-old Egyptian is more than just the current squash world number one - his elastic, unorthodox brilliance and charisma could be the key to squash breaking out beyond its four walls and regaining a place on the wider sporting
