(MENAFN) Group CEO of Emirates NBD, Rick Pudner, stated that the bank has completed acquiring Egypt unit of BNP Paribas for USD500 million, reported Arabian Business.
The CEO Dubai's largest bank also said that it gained approvals from the Central Bank of Egypt and the General Authority for Investment (GAFI) for 95.2 percent of shares and was awaiting approval for the remaining shares from Bank Misr and Banque du Caire Employee Insurance Fund.
Pudner added that the deal will enable Emirates NBD to serve a client base of over 200,000 customers, 3,000 corporate and 700 financial institutions through a network of 68 branches which BNP Paribas served in Egypt.
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