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Emirates NBD, Dubai’s biggest bank, plans to complete its acquisition of French lender BNP Paribas’ Egyptian operations by mid-May, its chief executive said on Thursday.
“The completion should be finalized in mid-May,” Rick Pudner said in a conference call to discuss the Dubai bank’s quarterly earnings.
In December, ENBD announced it had agreed to buy the Egyptian business of BNP Paribas for $500 million in a first step towards diversifying beyond its Dubai base.
ENBD reported a 31 percent increase in first-quarter profit earlier on Thursday.
