National Bank of Egypt gets approval for first South Sudan branch

National Bank of Egypt (NBE), the country’s largest state bank, has received approval to open a branch in South Sudan’s capital Juba, a senior official said on Monday.

The South Sudanese branch is part of NBE’s plans to boost international operations, Yehia Aboul Fotouh, deputy chairman of NBE, told Amwal Al Ghad.

The bank also works to meet licence requirements to open a branch in Saudi Arabia, Aboul Fotouh added.

NBE currently has presence in Ethiopia, Sudan, and South Africa, the banking official said in previous statements.