By: Elsayed Seleman
Cairo - Mubasher: Attijariwafa Bank filed an official request to the Centeral Bank of Egypt (CBE) to conduct the due diligence examination after making an initial bid for Barclays Bank Egypt, a source told Mubasher on Wednesday.
The due diligence examination is expected to be completed within three weeks, the source said.
Barclays has 56 branches and serves around 127,000 customers in Egypt, according to the bank's website.
In March, Barclays said it will sell its Africa business and seek higher shareholder returns.
The Moroccan bank refrained from making any comments despite several attempts by Mubasher.
Translated by: Moslem Ali
