VOL. XLI
No. 34
24-August-1998
EGYPT
NBE To Open Branch In The US
One of Egypt's biggest state-owned banks, the National Bank of Egypt (NBE), will openits first US branch in New York, following its $22mn purchase of 100% of Arab AmericanBank's assets and liabilities. According to Mr. Mahmud Abd al-Aziz, the bank's president,NBE also plans to expand further into the American market with branches in Los Angeles andMontreal. The purchase is still subject to US regulatory approval, expected within...
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