Qatar National Bank

Gulf banks are betting on Egypt despite anti-government protests continuing in several cities, writes Camilla Hall.

Hot on the heels of Qatar National Bank’s deal last week to buy Société Générale’s Egypt’s unit for $2bn, Dubai government-controlled Emirates NBD is looking to buy BNP Paribas’ Egyptian retail banking business, according to people familiar with the deal. Read more

The Gulf banks, so long somewhat passive players in international markets, are flexing their muscles. As Camilla Hall reports for the FT, European banks’ retreat from far-flung territories, is creating new opportunities – and Qatar National Bank, the state-backed lender of Qatar, is among the institutions on the hunt, with a bid to buy control of Société Générale’s subsidiary in Egypt.

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