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Italy’s Intesa Sanpaolo in talks with Egyptian gov’t to acquire the rest of Alexbank
The Italian lender has been the majority shareholder of Alexbank since 2006
Magued Sherif steps down from SODIC after eight years
Former SODIC COO Ayman Amer is replacing Sherif
The changing landscape of retail banking in the Middle East
Customers want financial services and products that give access to a full range of investment opportunities
Mashreq Bank gets Euromoney kudos + Axa, Tamweely, Intella get gongs
Our friends at Gulf lender Mashreq Bank were named market leader in the UAE in Euromoney’s 2023 Trade Finance Survey…
Ripplewood flips big part of its EFG Hermes stake to Chimera, others
Collins and Ripplewood are long-time investors in Egypt
Privatization update: United Bank, Helwan Fertilizers, Pachin
Two Saudi banks have United Bank on their radar
CIB net income up 17% in 4Q 2022
CIB’s net income rose 17% y–o-y to EGP 3.95 bn in 4Q 2022, according to its latest earnings release (pdf).…
Moody’s downgrades five banks’ deposit ratings on sovereign credit risk
Moody’s has downgraded the long-term deposit ratings of five Egyptian banks on the back of its downgrade last week of…
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