Bank Audi-Egypt gets CBE’s approval for NBG due diligence
Bank Audi-Egypt received the Central Bank of Egypt’s (CBE) approval to proceed with the due diligence on the potential acquisition of the National Bank of Greece’s (NBG) assets in Egypt, according to CBE Deputy Governor Gamal Negm. NBG has announced late last year that it plans to sell its branches in Egypt, as it aims to reduce its overseas presence as part of the bank’s restructuring plan mandated by the European Commission after Greece’s government debt crisis.
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