in Short

Finances BLOM Bank to sell its shares in BLOM Bank Egypt

LOM Bank Egypt announces in a press release that it has launched the process of selling the shares held by the Lebanese BLOM Bank in this independent bank. This procedure is only in its early stages: the Central Bank of Egypt must first give its approval, the sale will then require the agreement of the Lebanese Bank’s board of directors, and finally the Egyptian Central Bank will have to give its final agreement. The purpose of this sale is to increase the capital of the Lebanese bank, in order to meet the demands of the Banque du Liban (BDL).

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