Emirates NBD has reportedly received approval from the Central Bank of Egypt to conduct due diligence on Banque du Caire. The approval was reported in March 2025, with state-owned Banque Misr reportedly seeking up to USD 1.2 billion for a 45% stake in the Egyptian institution. Emirates NBD said there had been no material developments requiring an announcement.
BANQUE DU CAIRE'S PROFILE AND STATE OWNERSHIP
Banque du Caire is one of Egypt's largest banks, with assets of about EGP 478 billion (USD 9.4 billion) as of September 2024, and is wholly owned by Banque Misr, one of the country's two principal state-owned commercial banks.
The potential sale of a stake in Banque du Caire forms part of Egypt's privatisation programme.
EMIRATES NBD IN EGYPT
Emirates NBD already operates in Egypt through an existing subsidiary.
The bank has previously made acquisitions in Turkey and other markets. The structure, financing and final pricing of any deal remain subject to the outcome of due diligence and negotiation between Emirates NBD and Banque Misr.