{"id":603741,"date":"2023-08-20T00:00:00","date_gmt":"2023-08-20T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/20\/this-evening-three-banks-are-reportedly-eyeing-a-stake-in-united-bank\/"},"modified":"2023-08-20T00:00:00","modified_gmt":"2023-08-20T00:00:00","slug":"this-evening-three-banks-are-reportedly-eyeing-a-stake-in-united-bank","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/20\/this-evening-three-banks-are-reportedly-eyeing-a-stake-in-united-bank\/","title":{"rendered":"THIS EVENING: Three banks are reportedly eyeing a stake in United Bank"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Good afternoon, wonderful people, and welcome back to the grind <\/strong> after what we hope was a restful weekend. We\u2019re starting off the week with a surprisingly brisk news cycle here at home, starting with murmurs of renewed privatization interest. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> THE BIG STORY TODAY <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> New suitors for United Bank? <\/strong>Credit Agricole Egypt, Mashreq Bank Egypt, and the National Bank of Kuwait Egypt have begun due diligence on United Bank to acquire a stake in the CBE-owned lender, <a target=\"_blank\" href=\"https:\/\/tinyurl.com\/2ca6f3eh\" style=\"\" rel=\"noopener\">Asharq Business<\/a> reports, citing a source it says has knowledge of the planned sale. A second source is reported as confirming that three local banks have begun due diligence, without naming them.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> THE BIG STORY ABROAD <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Russia\u2019s Luna-25 spacecraft moon crash is dominating the conversation in the international press. <\/strong> Contact was lost with the spacecraft on Saturday, according to Roskosmos, Russia\u2019s state space corporation after it had moved into an \u201cunpredictable orbit\u201d and collided with the moon. The Luna-25, follows the Luna-24 \u2014 which was sent into space 47 years ago \u2014 and was set to land on the Moon\u2019s south pole before India\u2019s Chandrayaan-3 spacecraft, which is scheduled to land there next week to explore the terrain. The collision has undermined the Kremlin's effort to illustrate its space presence despite the conflict in the Ukraine and pressure of Western sanctions. (<a target=\"_blank\" href=\"https:\/\/www.reuters.com\/business\/aerospace-defense\/russias-moon-mission-falters-after-problem-entering-pre-landing-orbit-2023-08-20\/\" style=\"\" rel=\"noopener\">Reuters<\/a> | <a target=\"_blank\" href=\"https:\/\/www.bbc.com\/news\/world-europe-66562629\" style=\"\" rel=\"noopener\">BBC<\/a> | <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/world\/europe\/russian-spacecraft-crashes-into-moon-f57eb14b?mod=hp_lead_pos3\" style=\"\" rel=\"noopener\">Wall Street Journal<\/a> | <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2023\/08\/19\/russias-luna-25-spacecraft-suffers-technical-glitch-in-pre-landing-maneuver.html\" style=\"\" rel=\"noopener\">CNBC<\/a> | <a target=\"_blank\" href=\"https:\/\/edition.cnn.com\/2023\/08\/20\/world\/luna-25-spacecraft-moon-collision-intl\/index.html\" style=\"\" rel=\"noopener\">CNN<\/a>) <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ** CATCH UP QUICK <\/strong> on the top stories from today\u2019s <strong> EnterpriseAM<\/strong>:<\/p>\n<ul>\n<li><strong> No change to household electricity prices for another 4.5 months: <\/strong>The Madbouly cabinet <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e5cfef76-aa68-486f-a13a-cade675718c6\" style=\"\" rel=\"noopener\">has approved a decision<\/a> to leave household electricity prices frozen until 1 January, 2024, following a directive from President Abdel Fattah El Sisi.<\/li>\n<li><strong> The European Bank for Reconstruction and Development (EBRD) <\/strong><strong><a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/4278776a-0cae-4593-86f5-b392cf4a0637\" style=\"\" rel=\"noopener\">is expected to approve a USD 125 mn loan<\/a><\/strong> on 4 October to finance the \u201csuperstructure and purchase of equipment\u201d for Damietta Port\u2019s second container terminal.<\/li>\n<li><strong> Cabinet greenlights fresh development finance: <\/strong>The Madbouly cabinet <a target=\"_blank\" href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e21c9187-3462-4a58-acee-f1974b71311f\" style=\"\" rel=\"noopener\">approved at its weekly meeting a number of loans and grants<\/a> recently agreed with multilateral lenders and the Canadian government.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/finance.enterprise.news\/\" target=\"_blank\" rel=\"noopener\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/climate.enterprise.press\/wp-content\/uploads\/2023\/08\/Finance-Forum-1920px.jpg\"\/><\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong> CHECK OUT OUR AGENDA- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> The Enterprise Finance Forum is taking place on 18-19 September at <\/strong><strong> the St. Regis Hotel in Cairo. <\/strong> This flagship forum is the latest in our must-attend series of invitation-only, C-suite-level gatherings that allow senior members of our community to openly and frankly discuss critical issues in key sectors of the economy. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> This is our first two-day event<\/strong>,which should give us plenty of time to dive into the nitty gritty of this industry we love. Our panels will see CEOs, bankers, investors and founders gather to discuss the future and trends shaping banking, finance, fintech and NBFS. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Our full agenda will be out at month\u2019s end. Among the topics we\u2019ll be discussing: <\/strong><\/p>\n<ul>\n<li><strong> Looking into the crystal ball: <\/strong> Top industry CEOs will join us on stage to answer tough questions on where we are as an industry, the forces that will shape all of our businesses going forward, and their views on dealflow in the year ahead.<\/li>\n<\/ul>\n<ul>\n<li><strong> Surviving nuclear winter: <\/strong> We discuss how private equity and venture capital players are tackling challenges including fundraising and deployment in an environment in which it\u2019s awfully difficult to price your local asset in USD terms.<\/li>\n<li><strong> The robots are coming: <\/strong> We explore what the coming AI and big data means for the industry in our part of the world and what can bankers, NBFI, and fintech players do to capitalize on them.<\/li>\n<li><strong> What do you do when nobody wants to be a banker <\/strong> \u2014 and when those who are already (investment or commercial) bankers are either (a) dreaming of doing their own startup or (b) moving to Dubai (or, increasingly, Riyadh)? We go deep into the weeds with industry leaders on how they\u2019re building talent for tomorrow.<\/li>\n<li><strong> NBFIs are a bubble. Prove me wrong: <\/strong> We chart the explosive rise of NBFIs and ask whether the industry is ready for a wave of consolidation. We\u2019ll dive into whether consumer finance is starting to mature as a segment \u2014 and ask which sector is next.<\/li>\n<li><strong> Handicapping the winners and losers in fintech in 2024: <\/strong> We dive deep into which categories are getting traction, where the untapped opportunities are, what business they would start today if they could, and what we can expect of the sector in the year ahead.<\/li>\n<li><strong> What\u2019s a bank, anyway? <\/strong>Wherein we talk challenger and neobanks with the players looking to shake up the brick-and-mortar industry. <\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> ** NEW: MORE NETWORKING TIME- <\/strong> Our agenda includes expanded networking time, including an expanded coffee break and a post-event networking room for you to interact with your peers and speak one-on-one with the team at Enterprise. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> STAY TUNED for more detail <\/strong>about our exciting agenda in the weeks to come.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/finance.enterprise.news\/\" style=\"\" rel=\"noopener\">TAP OR CLICK HERE<\/a><\/strong> if you want to express interest in attending. We\u2019ll be sending out the first batch of invitations soon. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Do you want to become a commercial partner? <\/strong> Ping a note to <a target=\"_blank\" href=\"mailto:mtaalab@inktankir.com\" style=\"\" rel=\"noopener\">Moustafa Taalab, our head of commercial<\/a>.<\/p>\n<div class=\"row\">\n<div class=\"col-md-12 subscribe-box-panel\">\n<div class=\"\">\n<div class=\"title\">\n<h4 class=\"fw-lighter mb-10\">\n   Get <b style=\"font-weight: 700\">Enterprise<\/b> daily<br \/>\n  <\/h4>\n<\/p><\/div>\n<p class=\"mb-10\">The roundup of news and trends that move your markets and shape corporate agendas delivered straight to your inbox.<\/p>\n<p>  <a target=\"_blank\" href=\"egypt\/en\/user\/NewsLetters\" type=\"button \" class=\"btn-green px-3 d-flex align-items-center\" rel=\"noopener\">Subscribe here<\/a>\n <\/div>\n<\/p><\/div>\n<\/div>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> LISTEN TO OUR PODCAST- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> MISSED OUR PREVIOUS FORUMS? <\/strong><strong><a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/the-enterprise-podcast\/id1617987136\" style=\"\" rel=\"noopener\">The Enterprise<\/a><\/strong><strong><a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/the-enterprise-podcast\/id1617987136\" style=\"\" rel=\"noopener\">Podcast has you covered<\/a><\/strong><strong> : <\/strong> The Enterprise Podcast\u2019s forum series has been bringing you audio recordings of what was said on stage at the Enterprise Exports and FDI Forum and the Enterprise Climate Forum. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> WANT TO LISTEN? Head to: <\/strong><a target=\"_blank\" href=\"https:\/\/podcasts.apple.com\/eg\/podcast\/climate-is-the-biggest-business-and\/id1617987136?i=1000624977478\" style=\"\" rel=\"noopener\">Apple Podcast<\/a> | <a target=\"_blank\" href=\"https:\/\/open.spotify.com\/episode\/42Ds85Mp5AqBh7ZR5BDbvw?si=kS_kQimDQSGBtVqSyr1P7Q&nd=1\" style=\"\" rel=\"noopener\">Spotify<\/a> | <a target=\"_blank\" href=\"https:\/\/podcasts.google.com\/feed\/aHR0cHM6Ly93d3cub21ueWNvbnRlbnQuY29tL2QvcGxheWxpc3QvNWE1NmQ3YzMtZjI4MS00NTU3LThlMzEtYWFjODAxN2NjZjA2LzY4NmNmYTU5LTAwOTMtNDEyMS1hMTRjLWFlNmYwMDk3ZjEyMi81NDI0MGE5Ni04YWY5LTRkZGQtODExNi1hZTZmMDA5OTgxMzYvcG9kY2FzdC5yc3M\/episode\/YzU0MzcwMjQtNDVhMi00MDNmLWI5ZDYtYjA2MzAxMGM2ZTQ4?sa=X&ved=0CAUQkfYCahcKEwiwoNjonumAAxUAAAAAHQAAAAAQCg\" style=\"\" rel=\"noopener\">Google Podcast<\/a> | <a target=\"_blank\" href=\"https:\/\/play.anghami.com\/episode\/1122203900\" style=\"\" rel=\"noopener\">Anghami<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> IN THIS WEEK\u2019S EPISODE- <\/strong> In our second panel from the Enterprise Climate Forum, We dive deep into what the business leaders in the climate industry in Egypt and the region have to say about how the private sector is adopting greentech, where they see the opportunities and what they\u2019d like policymakers to do to encourage further participation. We were joined by <strong> Amr Allam, <\/strong>co-CEO of Hassan Allam Holding, <strong> Mohamed Ismail Mansour, <\/strong>CEO and co-founder of Infinity, and <strong> Sherif El Kholy, <\/strong> longtime partner and head of MENA private equity at Actis. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"web-image-inner\"><img data-recalc-dims=\"1\" decoding=\"async\" style=\"display: block\" src=\"https:\/\/i0.wp.com\/enterprise.press\/wp-content\/uploads\/2022\/03\/Inside-Industry-en-WEB-1600x584-v5-03-1.jpg\" alt=\"enterprise\"><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> *** It\u2019s Inside Industry day \u2014 <\/strong><strong> your weekly briefing of all things industrial in Egypt. <\/strong> Inside Industry focuses each Sunday on what it takes to turn Egypt into a manufacturing and export powerhouse, ranging from initial investment and planning to product distribution, through to land allocation to industrial processes, supply chain management, labor, automation and technology, inputs and exports, regulation and policy.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> In today\u2019s issue: <\/strong> As the country continues to struggle with a prolonged FX pinch, the Industrial Development Authority is rolling out a new phase of its investment map to encourage manufacturers to locally produce components and products that are typically imported. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> \u2600\ufe0f <\/strong><strong> TOMORROW\u2019S WEATHER- <\/strong>Expect more sunny skies with a high of 39\u00b0C in the daytime, dropping to a cooler 24\u00b0C in the evening, according to our favorite weather app. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good afternoon, wonderful people, and welcome back to the grind after what we hope was a restful weekend. We\u2019re starting off the week with a surprisingly brisk news cycle here at home, starting with murmurs of renewed privatization interest. THE BIG STORY TODAY New suitors for United Bank? Credit Agricole Egypt, Mashreq Bank Egypt, and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":603742,"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":[7213],"tags":[633,587,7193,634],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-603741","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-tonight","tag-enterprisepm","tag-state-privatization-program","tag-united-bank","tag-what-were-tracking-tonight","wpautop","entry"],"acf":{"mongo_id":"d88c270f-3c47-4480-98a4-d9dec0b19359","order":"0","is_powered_by":false,"story_type":"4","photo_url":"https:\/\/ent.news\/2023\/8\/913.jpg","photo_position":"above","homepage_title":"","full_issue_title":"","related_issue":[603739],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/8\/.57a452d6-3287-49e6-b5c7-a7ce1eb11eb0.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS EVENING: Three banks are reportedly eyeing a stake in United Bank - 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\/2023\/08\/20\/this-evening-three-banks-are-reportedly-eyeing-a-stake-in-united-bank\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"THIS EVENING: Three banks are reportedly eyeing a stake in United Bank\" \/>\n<meta property=\"og:description\" content=\"Good afternoon, wonderful people, and welcome back to the grind after what we hope was a restful weekend. We\u2019re starting off the week with a surprisingly brisk news cycle here at home, starting with murmurs of renewed privatization interest. THE BIG STORY TODAY New suitors for United Bank? 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