United Bank of Egypt and Arab Investment Bank are likely to be the two state-owned banks which the Central Bank of Egypt (CBE) plans to float through an initial public offering, according to sources familiar with the matter. On Tuesday, CBE Governor Tarek Amer announced that CBE is studying the possibility of offering around 20% shares in two state-owned banks. He did not specify which banks would be offered; yet, he excluded state bank giants, National Bank of Egypt and Banque Misr, from the offering plans. The sources explained that the CBE had recently announced plans to offer part of its stake in United Bank of Egypt in an IPO after an anticipated restructuring move. This gives a strong indication that United Bank of Egypt is included in the CBE’s plans to list its shares on Cairo bourse. As for the Arab Investment bank, it is one of the most successful state-owned banks but it currently needs financial support, which is why it might be included as well in the listing plans, the sources further stated. (Amwal Al Ghad)