January 4th, 2023 - 08:29 GMT
Bank ABC (Arab Banking Corporation B.S.C.) has completed the legal merger of its two Egyptian subsidiaries BLOM Bank Egypt and Bank ABC Egypt. The two banks have now become a single legal entity after receiving final regulatory approvals, including those of the Central Bank of Egypt and the General Authority for Investment and Free Zones. This follows Bank ABC’s acquisition of a 99.5% stake in BLOM Bank Egypt in August 2021. The two banks will continue to operate a normal service while work continues to fully integrate their products and ...