Emirates NBD still targets Egypt after failing to acquire Blom Bank
The Dubai banking institution believes the growth opportunity would allow its local subsidiary to overcome the Egyptian market’s fragmentation and reach a critical size.
05/02/2021 at 16h21, by Africa Business+
After gaining a foothold in Egypt in 2012, Emirates NBD PJSC has tried three times to consolidate its commercial position by buying a second bank. The latest was its bid to acquire Blom Bank Egypt S.A.E., which was unveiled last week by the C.E.O. of Dubai’s largest bank.
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