Mohamed Bedir, CEO and Managing Director of Bank Audi – Egypt, said that exclusive negotiations will resume between Bank Audi Lebanon and First Abu Dhabi Bank – UAE (FAB), regarding the latter’s acquisition of Bank Audi – Egypt.

Bedir added that the two banks held fruitful discussions early this year, and made significant progress on many points.

The current discussions between the two banks are subject to examination confirmation, the signing of contracts, and obtaining the approval of the concerned authorities, including the approval of the Central Bank of Egypt (CBE).