Citigroup consumer banking unit in Egypt has received bids from ten banks, after the unit was put on sale in October last year.
The bidders reportedly include Emirates NBD, Mashreqbank, National Bank of Abu Dhabi, and Abu Dhabi Islamic Bank.
Go deeper with GlobalData
Barclays Bank, Commercial International Bank Egypt and Bahrain’s Ahli United Bank BSC reportedly submitted bid for the bank’s assets as well.
In October, the US-based lender announced its plans to exit consumer banking in 11 markets, including Egypt and Japan, in an effort to reduce costs.
The bank said that it wants to complete sales in these markets by the end of this year.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
