Emirates NBD highest bidder for BNP Paribas' Egypt arm
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Emirates NBD highest bidder for BNP Paribas' Egypt arm

Emirates NBD highest bidder for BNP Paribas' Egypt arm

Dubai's largest bank, Emirates NBD, has emerged as the frontrunner to buy BNP Paribas' Egyptian retail business, in a deal likely to raise $400-500m for the French lender, Reuters has reported, citing three sources familiar with the matter. ENBD's offer for the business was highest in a second round of bidding that took place earlier in December, the sources said. BNP, France's biggest-listed bank, put its retail banking business in Egypt on the block in June, seeking to shore up its capital base and exit non-core operations.

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