Financial and Banking News


BAII Takes Third Share in New French Bank 

The Paris-based Banque Arabe et Internationale d'Investissement (BAII) has traded its wholly-owned retail banking subsidiary Banque Arabe Privee (BAP) for a 33.32 share of a newly-formed French bank, Banque d'Arbitrage et de Credit (BAC). BAII first sold a 60% stake in BAP to Compagnie Europeenne de Placements (CEP), a French real estate investment specialist, and then CEP and BAP merged to...