The Commercial International Bank Egypt (CIB) has received clearance from the Central Bank of Egypt (CBE) to start due diligence on HSBC’s retail banking portfolio, according to a statement.

The Cairo-based lender noted that there can be no assurance that this process will result in any specific transaction.

Moreover, CIB added that it will inform the market of any new updates on the matter.

Earlier this month, the Egyptian Exchange (EGX) hosted a ceremony to celebrate CIB’s achievement as the "Best Bank for Sustainable Finance in Africa 2025."

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