Oct 17 2005 |
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BNP Paribas will bid for Egypt's Bank of Alexandria in Early 2006
Cairo (APD) - BNP Paribas, the banking multinational headquartered in France, plans to bid for Egypt's Bank of Alexandria, said a report in French daily Les Echos. Bank of Alexandria is scheduled to be privatized by the Egyptian government in early 2006.In order to focus on winning the Bank of Alexandria bid, BNP Paribas would not participate in the privatization of Egyptian American Bank, the report said.
BNP Paribas has already a well-established presence in Egypt through BNP Paribas Le Caire, which is active in corporate banking and trade finance and operates five branches.
BNP is also looking to expand in Algeria, where it is bidding for Credit Populaire d'Algerie alongside other French banks.
By Eman Wahby, APD Staff Writer in Cairo
© APD (Arab Press Digest) 2005
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