The National Bank of Greece (NBG), in cooperation with the Auctions Department of the Coldwell Banker Company, has sold the bank’s headquarters in Dokki to an entity affiliated with the Egyptian Cabinet. The bank re-leased the Dokki branch for a renewable year, until the completion of the liquidation of all its activities in the Egyptian market. On 10 May 2021, the Greek bank obtained the approval of the Central Bank of Egypt (CBE) to proceed with stopping the operations of its branch in Egypt. The bank asked its customers to go to its main branch in Dokki to withdraw their deposits as soon as possible. The Arab Investment Bank had reached a final agreement to purchase the portfolio of letters of guarantee existing with the National Bank of Greece, Egypt.

Source: Daily News Egypt May 22, 2023 09:51 UTC