The Egyptian government is revaluating Banque du Caire, with Prime Minister Moustafa Madbouly emphasizing the need for an updated financial assessment. This valuation will inform decisions regarding a potential sale, either to a strategic investor or through a stock market offering. Reports claiming the bank’s value exceeded $1 billion were dismissed as inaccurate.
On March 20, 2025, Egyptian Prime Minister Moustafa Madbouly announced that the government has engaged an advisor to perform a new valuation of Banque du Caire. This decision is based on the recognition that previous assessments no longer represent the bank’s current financial condition. The updated valuation will influence the decision on the percentage of the bank available for sale, either to a strategic investor or through a stock market listing.
Prime Minister Madbouly assured that the reassessment is conducted transparently, with the intention of supporting both the government and the Central Bank of Egypt in making well-informed decisions. He also mentioned that the privatization plan encompasses both The United Bank and Banque du Caire. Furthermore, he refuted recent claims suggesting that Banque du Caire was valued at $1 billion or more, asserting that such estimates are completely erroneous.
In summary, the Egyptian government is undertaking a fresh valuation of Banque du Caire to determine the next steps in its privatization plan. The reassessment aims to ensure that the valuation reflects current financial realities, guiding future decisions regarding the bank’s ownership. Prime Minister Madbouly’s commitment to transparency in this process underscores the importance of credible assessments in guiding government actions.
Original Source: www.egypttoday.com
