{"id":560543,"date":"2021-03-03T04:04:32","date_gmt":"2021-03-03T04:04:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/03\/bank-audi-egypt-fab-in-2q2021\/"},"modified":"2021-03-03T04:04:32","modified_gmt":"2021-03-03T04:04:32","slug":"bank-audi-egypt-fab-in-2q2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/03\/bank-audi-egypt-fab-in-2q2021\/","title":{"rendered":"Bank Audi Egypt = FAB in 2Q2021"},"content":{"rendered":"

Bank Audi will be fully integrated into First Abu Dhabi Bank (FAB) during 2Q2021 <\/strong>after receiving the approval of the Central Bank of Egypt and other regulatory bodies for the transaction, Masrawy<\/a> reports, citing unnamed sources close to the matter.<\/p>\n

Background:<\/strong> FAB signed in January a final agreement<\/a> to acquire 100% of Bank Audi\u2019s operations in Egypt. The acquisition will increase the Emirati lender assets to EGP 120 bn (c. USD 8.1 bn) post-acquisition, making it one of the largest banks in Egypt in terms of assets. FAB\u2019s branch count will more than triple to 70, adding Bank Audi\u2019s 53 branches to its existing 17. Audi\u2019s total assets were valued at EGP 83 bn (USD 5.3 bn) at the end of 3Q2020.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bank Audi will be fully integrated into First Abu Dhabi Bank (FAB) during 2Q2021 after receiving the approval of the Central Bank of Egypt and other regulatory bodies for the transaction, Masrawy reports, citing unnamed sources close to the matter. Background: FAB signed in January a final agreement to acquire 100% of Bank Audi\u2019s operations […]<\/p>\n","protected":false},"author":1,"featured_media":560544,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[2037,204,72,882,7128],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-560543","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-bank-audi","tag-banking","tag-enterpriseam","tag-first-abu-dhabi-bank","tag-ma-watch","wpautop","entry"],"acf":{"mongo_id":"a3014da2-50f1-4db1-9f36-26d5db18a7df","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/3\/78.jpg","photo_position":"above","related_issue":[560536],"teaser":"","voice_url":""},"yoast_head":"\nBank Audi Egypt = FAB in 2Q2021 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/03\/bank-audi-egypt-fab-in-2q2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bank Audi Egypt = FAB in 2Q2021\" \/>\n<meta property=\"og:description\" content=\"Bank Audi will be fully integrated into First Abu Dhabi Bank (FAB) during 2Q2021 after receiving the approval of the Central Bank of Egypt and other regulatory bodies for the transaction, Masrawy reports, citing unnamed sources close to the matter. Background: FAB signed in January a final agreement to acquire 100% of Bank Audi\u2019s operations […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/03\/bank-audi-egypt-fab-in-2q2021\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-03T04:04:32+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/78.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/03\/bank-audi-egypt-fab-in-2q2021\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/03\/bank-audi-egypt-fab-in-2q2021\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Bank Audi Egypt = FAB in 2Q2021\",\"datePublished\":\"2021-03-03T04:04:32+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/03\/bank-audi-egypt-fab-in-2q2021\/\"},\"wordCount\":124,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/03\/bank-audi-egypt-fab-in-2q2021\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/3\/78.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Bank Audi\",\"banking\",\"EnterpriseAM\",\"First Abu Dhabi Bank\",\"M&A Watch\"],\"articleSection\":[\"M&A WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/03\/bank-audi-egypt-fab-in-2q2021\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/03\/03\/bank-audi-egypt-fab-in-2q2021\/\",\"name\":\"Bank Audi Egypt = FAB in 2Q2021 - 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The Emirati\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":559437,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/21\/the-great-lebanese-bank-sell-off-act-ii\/","url_meta":{"origin":560543,"position":1},"title":"The Great Lebanese Bank Sell Off: Act II","author":"enterpriseam admin","date":"21 January 2021","format":false,"excerpt":"FAB is acquiring Bank Audi\u2019s Egypt arm: First Abu Dhabi Bank (FAB) has signed a final agreement to acquire 100% of Bank Audi\u2019s operations in Egypt and expects to complete the transaction in \u201cthe next few months,\u201d the banks said in a statement yesterday. We don\u2019t know how much FAB\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/1\/262.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561827,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/04\/22\/fab-begins-share-transfer-in-bank-audi-acquisition\/","url_meta":{"origin":560543,"position":2},"title":"FAB begins share transfer in Bank Audi acquisition","author":"enterpriseam admin","date":"22 April 2021","format":false,"excerpt":"First Abu Dhabi Bank (FAB) has begun the share transfer process in its acquisition of 100% of Bank Audi\u2019s Egypt operations, FAB said in astatement (pdf). Once the share transfer is complete, FAB will begin merging the assets and operations of both Bank Audi Egypt and FAB Egypt, with the\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/4\/230.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568711,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/02\/mas-bank-audi-banking-first-abu-dhabi-bank-employee-rights\/","url_meta":{"origin":560543,"position":3},"title":"M&As, Bank Audi, banking, First Abu Dhabi Bank, employee rights","author":"enterpriseam admin","date":"2 February 2020","format":false,"excerpt":"M&A WATCH- FAB will keep Bank Audi employees on board if its acquisition goes through -banking sources: First Abu Dhabi Bank (FAB) intends to keep Bank Audi\u2019s 1,700 employees if it closes ongoing talks to acquire the Lebanon-based bank\u2019s operations in Egypt, industry sources told Masrawy. The acquisition talks, which\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":567507,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/26\/first-abu-dhabi-bank-confirms-acquisition-talks-with-bank-audi\/","url_meta":{"origin":560543,"position":4},"title":"First Abu Dhabi Bank confirms acquisition talks with Bank Audi","author":"enterpriseam admin","date":"26 January 2020","format":false,"excerpt":"M&A WATCH- First Abu Dhabi Bank (FAB) has confirmed it is in talks to acquire Bank Audi\u2019s Egypt unit in a statement (pdf) to the Abu Dhabi stock market. The bank said that a \u201cworking group\u201d had been set up to evaluate the acquisition and that an agreement is in\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/690.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":571599,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/05\/18\/fab-places-bank-audi-egypt-acquisition-on-ice\/","url_meta":{"origin":560543,"position":5},"title":"FAB places Bank Audi Egypt acquisition on ice","author":"enterpriseam admin","date":"18 May 2020","format":false,"excerpt":"M&A WATCH- First Bank of Abu Dhabi (FAB) has put on ice its plan to acquire Bank Audi\u2019s Egypt assets due to market conditions, Reuters reports, citing unnamed sources. 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