No. 22



Standard Chartered Interested In EAB Stake

Standard Chartered is reported to be preparing a $300mn bid for the Cairo-based Egyptian American Bank (EAB). According to a report in the UKs Sunday Times on 20 May, the bank is interested in purchasing the 50% stake currently held by American Express. The report suggests that the Egyptian Government, which owns the other 50% of EAB, is also considering selling its stock. It said that Standard Chartered is keen to...