Egypt: Madbouly denies Banque du Caire sale rumors
Arab Finance: Prime Minister Mostafa Madbouly denied reports claiming the sale of Banque du Caire at a value of $1 billion, as per an official statement.
Madbouly reflected on the government's public offering program, which included plans for the United Bank and Banque du Caire.
He added that an advisor is currently conducting due diligence to assess the bank's current value.
Then, the government and the Central Bank of Egypt (CBE) will determine whether to offer the share to a strategic investor or on the stock market.
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