Arab Finance: The Central Bank of Egypt (CBE) has requested investment banks to offer advisory proposals for the sale of United Bank of Egypt, sources familiar with the matter told Asharq Business on March 9^th.

However, major investment banks, including EFG Hermes, CI Capital, and Al Ahly Pharos, have not received any requests yet, the sources added.

Additionally, one of the sources revealed that an international investment bank will be arranging the sale, in cooperation with a local bank.

The move came after discussions with the Saudi Public Investment Fund (PIF) to acquire the United Bank of Egypt failed due arguments over calculating the impacts of devalued Egyptian pound on the deal.

United Bank kicks off global roadshow within 2 months for 2025 EGX listing Updated 9/23/2024 9:48:00 AM

QIB, KFH wrap up due diligence on United Bank of Egypt Updated 2/27/2024 8:09:00 AM

United Bank eyes acquiring up to 30% stake in 2 technology firms soon Updated 2/21/2024 10:19:00 AM

3 local banks begin due diligence on United Bank of Egypt Updated 8/20/2023 11:12:00 AM

Afreximbank renews $1B loans to United Bank of Egypt Updated 7/30/2023 1:40:00 PM