Khaled Kawan News Today

Standard & Poor’s Global Ratings (S&P) has upgraded Bank ABC’s rating to “Stable” from “Negative”, while affirming its long and short-term issuer credit

Aluminium Bahrain (Alba), the world’s largest smelter ex-China, has successfully achieved sustainability-linked refinancing for its $1.247 billion syndicated loan facility in connection to the Line 6 Expansion Project.

Bahrain's Arab Banking Corp (ABCB.BH) has completed the acquisition of a 99.5% stake in the Egyptian unit of Lebanon's BLOM Bank (BLOM.BY), which will allow ABC to triple its market share and balance sheet in Egypt.

Arab Banking Corporation (Bank ABC) has announced the completion of its acquisition of a 99.5% stake in BLOM Bank Egypt, significantly enhancing Bank ABC’s presence in the Mena region, and deepening its roots in the Egyptian market.

Monday, 18 January, 2021 - 10:00 Image used for illustrative purpose. People are seen in front of Blom bank in the Fifth Settlement districts of New Cairo. REUTERS/Amr Dalsh Manama - Asharq Al-Awsat Bahrain-based Arab Banking Corporation (Bank ABC) announced signing an agreement with Lebanon’s Blom Bank on Friday to acquire 99.42 percent of the issued share capital of Blom Bank Egypt. The acquisition process is subject to a nu...

CAIRO: Bahrain’s Arab Banking Corporation (ABC) is to buy 99.4 percent of BLOM Bank’s Egypt subsidiary, subject to regulatory approvals in both countries, with the deal likely to be finalized in the first half of this year. “This deal will enable BLOM Bank S.A.L. to comply with the Lebanese Central Bank requirement of all banks operating in Lebanon to increase their capital by 20 percent,” Saad Azhari, chairman and general manager of BLOM Group, was quoted as saying. Khaled Kawan, CEO o...

Bank ABC to acquire Blom Bank Egypt MANAMA, January 17, 2021 Bahrain-based Arab Banking Corporation (Bank ABC), a leading financial institution in the Middle East, said that it has entered into an agreement with Blom Bank Lebanon to acquire its 99.4% stake of Blom Bank Egypt. The proposed cash consideration to be offered by Bank ABC for 100% of Blom Bank Egypt under the acquisition is EGP6.700 million ($427 million). The acquisition, subject to regulatory approvals in Bahrain, Egypt and Leba...