Bank ABC acquires Blom Bank Egypt for $480 million – sources

Bank ABC acquires Blom Bank Egypt for $480 million – sources

CAIRO (Reuters) - Bahrain's Bank ABC completed its purchase of the Egyptian subsidiary of Lebanon's Blom Bank for $480 million on Thursday, two banking sources said. The transaction included all Blom Bank Egypt's physical and non-physical assets as well as customer accounts, the sources said.  Lebanon's Blom Bank, which owns 99.42 percent of the issued “¦ Continued

The post Bank ABC acquires Blom Bank Egypt for $480 million - sources appeared first on Egypt Independent.CAIRO (Reuters) - Bahrain's Bank ABC completed its purchase of the Egyptian subsidiary of Lebanon's Blom Bank for $480 million on Thursday, two banking sources said. The transaction included all Blom Bank Egypt's physical and non-physical assets as well as customer accounts, the sources said.  Lebanon's Blom Bank, which owns 99.42 percent of the issued “¦ Continued

The post Bank ABC acquires Blom Bank Egypt for $480 million - sources appeared first on Egypt Independent.