Bank Audi-Egypt, EIB, EBRD start dollar liquidity talks

Bank Audi SAE, the eighth largest commercial bank in Egypt, is in ongoing talks with some European banks to secure dollar liquidity, a senior banking source told Amwal Al Ghad Monday.

The source said Bank Audi-Egypt, Egyptian arm of Lebanon-based Bank Audi, is holding negotiations with the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD).

Audi Egypt aims to secure a finance that enables the bank to fill the local demand whether in form of loans or letters of credit.