United Bank
The bank expects to issue the shares on the EGX by Q4 2024, contingent on prevailing market conditions and the finalization of approval procedures.
El-Kady revealed that the bank will be meeting with potential investors in the Gulf, Europe, and the USA to offer its shares, sharing that the bank could sell a maximum stake of 49 percent
The CBE said that the offering is expected to take place before the end of the first quarter of 2025.
This evaluation is in preparation for one of the banks to acquire it, with preference given to the bank offering the higher price.
The contract is to finance purchasing machineries, equipment, construction and buildings of small and medium projects with economic feasibility.
The CBE is planning to raise the loan-to-deposit (LTD) ratio to 60-65 percent, up from 40-45 percent.
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