The Egyptian government is undertaking a new valuation of Banque du Caire to determine its sale percentage, emphasizing transparency in the process. Prime Minister Madbouly confirmed that the privatization includes The United Bank and refuted inaccurate valuation reports exceeding $1 billion.
On 20 March 2025, Egyptian Prime Minister Moustafa Madbouly announced during a press conference that the government has engaged an advisor to perform a new valuation of Banque du Caire. This decision arises from the recognition that the prior assessment has become outdated and does not represent the bank’s current financial condition adequately.
The purpose of this reassessment is to establish the proportion of the bank that can be offered for sale, whether to a strategic investor or through a stock market listing. Prime Minister Madbouly emphasized the importance of conducting this valuation transparently, ensuring that the Government of Egypt and the Central Bank have the necessary information for making sound decisions.
Furthermore, he clarified that the ongoing privatization program will feature the public offering of both The United Bank and Banque du Caire. Additionally, he refuted circulating rumors regarding Banco du Caire’s valuation exceeding $1 billion, labeling such claims as completely incorrect.
In summary, the Egyptian government is initiating a fresh valuation of Banque du Caire to inform the potential sale of a stake in the bank. Prime Minister Madbouly is committed to a transparent process in this reassessment, which aims to guide strategic decisions regarding the bank’s privatization, alongside The United Bank. The government also addresses misinformation concerning the bank’s value.
Original Source: www.egypttoday.com
