The Egyptian government recently re-opened the privatization procedures of four state-owned commercial banks, with plans to offer an interest range of five to 15 percent to investors, reported Al-Alam Al-Yaum. Inetrnational reting agencies, Moodys and Standard and Poor’s, have begun preparing credit ratings on the banks.
The National Bank of Egypt, Bank Misr, Bank du Caire and the Bank of Alexandria will go under immediate evaluation in order to determine the market price at which they can be offered to the private sector. — (menareport.com)
© 2002 Mena Report (www.menareport.com )