Arab Finance: Three Egyptian banks have started conducting due diligence on the United Bank of Egypt, two sources familiar with the matter told Asharq Business on August 20^th.

The banks include Mashreq Bank Egypt, Crédit Agricole Egypt, and Al Ahli Bank of Kuwait-Egypt (ABK), one source pointed out.

The United Bank of Egypt, owned by the Central Bank of Egypt (CBE), is one the banks that the Egyptian government works on exiting from under the state’s initial public offering (IPO) program.

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