First Abu Dhabi bank in talks to buy EFG Hermes

09 Feb, 2022

DUBAI: First Abu Dhabi Bank, the UAE's biggest lender, is in talks to buy Egyptian bank EFG Hermes, which has a market value of over $970 million, two sources with knowledge of the matter said.

Rothschild is advising FAB on the deal, the sources said , which would be its second major transaction in Egypt after it bought the Egyptian business of Lebanon's Bank Audi last year.

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FAB did not immediately respond to a Reuters request for comment.

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