Qatar's QNB sees SocGen deal by end-March

  • Share via facebook
  • Tweet this
  • Bookmark and Share

Qatar National Bank, the Gulf state's largest lender by market value, said on Wednesday it hopes to complete the process of buying a majority stake in Societe Generale's Egyptian unit in the next two months.

QNB expects Egyptian central bank approval for the purchase in the next two weeks, Chief Financial Officer Ramzi Mari said in a conference call.

Mari also said the bank expects loan growth of 15 percent in 2013, before the inclusion of the Egyptian arm. Loans and advances grew nearly 30 percent in 2012.

The bank is expecting to report a 10 percent increase in 2013 net profit, before taking the consolidation of the Egyptian arm into account, Mari said.

Related:

Market Performance

Qatar National Bank - Qatar
216.0
6.0 2.86 (%)
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

Enter the words above: Enter the numbers you hear:

All comments are subject to approval before appearing

Further reading

Features & Analysis
Saudi Arabia builds start-up culture with state oil money

Saudi Arabia builds start-up culture with state oil money

Gov't has previously has found it hard to promote start-ups in...

Why PE's back in vogue in the Middle East

Why PE's back in vogue in the Middle East

Confidence is returning to the Gulf’s private equity market after...

The curious case of David Haigh

The curious case of David Haigh

The story of how the former Leeds United boss went from football...

3
Most Discussed