After receiving the necessary regulatory approvals, First Abu Dhabi Bank (FAB), led by its CEO, Hana Al Rostamani, announced that it had initiated the process of transferring shares for 100% of the share capital of Bank Audi sae ( Egypt), a subsidiary of Bank Audi based in Lebanon.
Once the share transfer is complete, FAB will begin integrating the assets and operations of Bank Audi sae (Egypt) and FAB Egypt, with the integration process expected to be finalized in 2022.
Following the share transfer, this acquisition will make FAB one of Egypt’s largest foreign banks, with assets of more than EGP 130 billion (USD 8.5 billion) as of December 31, 2020.
