Union National Bank to expand in Egypt, open branch in China

Union National Bank, which is 50% owned by the Abu Dhabi government, plans to expand "aggressively" in Egypt by opening more branches this year, CEO Mohammed Nasr Abdeen said, according to Reuters. The bank has 42 branches in Egypt currently. Abdeen also announced that Union National Bank has gotten approval from China's central bank to convert its representative office into a branch in Shanghai.