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Barclays Egypt plans 10% network expansion in 2013
- Egypt: Wednesday, April 03 - 2013 at 05:43
Barclays Bank Egypt has announced plans to add branches in the country in 2013 and may consider acquiring another lender in the country, as the UK's second-biggest lender by assets seeks to expand in the North African country after rivals from France sold local units, Bloomberg has reported. The bank will boost its branch network by 10% this year and is preparing to offer Islamic banking services, said consumer banking director at the Cairo-based lender, Omar Baig. "For us, Egypt is a very important economy," Baig said. "Our view about Egypt in the long term still remains that it's a place where we want to be and we want to be a significant player."
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