# European banks put their egyptian branches for sale



## hhaddad (Apr 14, 2010)

*According to Ahram printed version a report from Reuters states that European banks are selling off their Egyptian branches. Those noted are BNP PARIBAS, SOCIETE GENERALE,CREDIT AGRICOLE.*


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## aykalam (Apr 12, 2010)

Some of those are being bought up by Qatar National Bank


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## canuck2010 (Jan 13, 2010)

All of those banks had horrible customer service, no great loss!


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## Sonrisa (Sep 2, 2010)

Wow, bit by bit, the qataries will end up owning the whole country


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## canuck2010 (Jan 13, 2010)

If Qatar and Turkey continue the corporate take over, that could actually be an improvement.


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## Sonrisa (Sep 2, 2010)

Improvement in what sense?


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## jemiljan (Nov 28, 2011)

hhaddad said:


> *According to Ahram printed version a report from Reuters states that European banks are selling off their Egyptian branches. Those noted are BNP PARIBAS, SOCIETE GENERALE,CREDIT AGRICOLE.*


Not quite. Only two, BNP Paribas and Societe Generale have sold. The others expected to do so, but they haven't yet. If anything, the situation has made it very difficult for them to sell.

Egypt's deadly turmoil slows European bank divestments



> French banks Societe Generale and larger rival BNP Paribas agreed to sell their banking arms in Egypt to Qatar National Bank and Dubai’s Emirates NBD respectively in 2012.
> 
> Some had expected other deals to follow. Those at the top of the list were France’s Credit Agricole , which holds a 61-percent stake in Credit Agricole Egypt, and Italy’s Intesa Sanpaolo, which has a 70 percent stake in Bank of Alexandria.
> 
> ...


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