The National Bank of Egypt is looking to divest its stake in assets worth a total EGP 250 mn during 2018, Vice Chairperson Yehia Aboul Fotouh said yesterday, according to Al Mal. Proceeds will be reallocated to more profitable investments, he added, noting that the NBE is also in talks to launch a leasing arm this year. We had said earlier this week that some state-owned and smaller, mid-cap banks — including the NBE and Banque Misr — were planning to offload various investments to provide liquidity needed to comply with Basel III regulations.

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