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New Egyptian bank to open in Sudan
National bank will found new institution in Khartoum with $50 million of capital, the head travelling south next week to finalise procedures
Ahram Online Published in Ahram Online on 13 - 10 - 2011

The National Bank of Egypt (NBE) has obtained the approval of Egypt's Central Bank to establish a new bank in Sudan with founding capital of US$50 million, according to Tarerk Amer, NBE's chairman.
Amer announced he will travel to Sudan next Thursday to finalise procedures with the Sudanese Central Bank.Amer met with the Sudanese vice president in Cairo during a Chamber of Commerce meeting on Wednesday.
The NBE head said that his meeting with the Sudanese VP ended in a decision to increase the credit facilities his bank offered to Sudan.
This increase will be represented by $100 million to the Central Bank of Sudan for supporting investment, $50 million in the newly established bank, and $50 million for foreign trade.
He added that Egyptian public banks are also founding an investment firm with capital of $150 million to work with Sudanese and other African firms.
http://english.ahram.org.eg/News/24047.aspx

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