Abu Dhabi – Mubasher: First Abu Dhabi Bank (FAB), listed on the Abu Dhabi Bank (ADX), is in talks to acquire Bank Audi’s unit in Egypt, Reuters reported on Wednesday.
Discussions are at an early stage, a source familiar with the matter told the international news agency.
Earlier in January, Bank Audi’s chief financial officer Tamer Ghazaleh said that the Lebanese bank was considering selling its unit in Egypt.
It is worth highlighting that FAB’s net profit reached AED 3.11 billion in Q3-19, versus AED 3.021 billion in the same quarter of 2018.
