Cairo - Mubasher: Standard Chartered Bank negated that it is currently pursuing the acquisition of the United Bank of Egypt, the British bank told Mubasher in an official statement
Standard Chartered is committed to the markets where it is currently operating, in Asia, Africa, and the Middle East, we highly value our presence in the Egyptian market, however, we didn’t initiate any talks to acquire any bank in Egypt recently, the bank stated.
The Central Bank of Egypt (CBE) intends to sell its stake in United Bank of Egypt, as part of a strategy by the government to float and sell public banking assets.
