United Bank is one of the 32 state-owned companies the Egyptian government listed as part of its IPO program.
The Central Bank of Egypt (CBE) appointed Barclays Bank as an international sell-side advisor alongside local financial advisor CI Capital for the sale of its 99% stake in the state-owned United Bank.
The CBE did not disclose further details on the transaction yet. United Bank is one of the 32 state-owned companies the Egyptian government listed as part of its IPO program.
As part of its reform strategy in Egypt, the CBE established The United Bank in June 2006 through the merger of three banks: The Egyptian United Bank, The Nile Bank, and Islamic International Bank for Investment and Development.
The CBE’s Monetary Policy Committee (MPC) is scheduled to meet today to review key interest rates, economic experts predicted that the interest rates will remain unchanged. This is because Egypt’s inflation rates showed a slowdown in April.
