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ABC to finish due diligence on BLOM Egypt next month

ABC to finish due diligence on BLOM Egypt next month

ArabFinance: Bahrain-based Arab Banking Corporation (Bank ABC) will complete due diligence on the Lebanese BLOM Bank Egypt in mid-November, Masrawy reported on October 27th.

The move comes ahead of a potential offer to acquire the Lebanese bank’s assets in the Arab republic, Masrawy cited banking sources.

Bank ABC reportedly began due diligence on the Egyptian assets last September.

Last August, the Bahraini entity entered race to compete with the UAE-based Emirates NBD over the acquisition offer.

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