•  Egypt plans to sell Banque du Caire but is waiting on valuation results before making any final decisions.
• Emirates NBD got the green light to conduct due diligence for a potential 60% stake.

The Egyptian government is weighing the sale of Banque du Caire — but first, it is waiting for a valuation.

Banque Du Caire

Prime Minister Mostafa Madbouly announced that the government plans to move ahead with selling the bank once its valuation process is completed..

This follows earlier approval from the Central Bank of Egypt for Emirates NBD to carry out due diligence. The UAE lender is eyeing a 60% stake in Banque du Caire, according to sources speaking to Al Arabiya Business.

But here’s the catch: The source who spoke to Alarabiya clarified that there is no clear valuation of the bank. Additionally, what is being discussed are merely leaks that might not be reliable. Market analysts speculate a valuation between USD 1 billion to USD 1.5 billion however no official entity has confirmed. 

Back in 2008, the bank was valued at USD 2 billion by the National Bank of Greece. At that time the exchange rate was 5.5 EGP to the dollar. Now it is hovering around 50 EGP per USD, a completely different landscape.

Profits

Banque du Caire closed 2024 on a strong note, reporting a net profit of 12.4 billion EGP, marking an 84% year-on-year surge. Momentum carried into 2025, with Q1 profits rising 45% to 3.4 billion EGP, reflecting solid performance across key business segments. Meanwhile, total assets grew by 20%, reaching 483 billion EGP by the end of last year. As for its capital structure, the bank’s paid-up capital currently stands at 19 billion EGP, while its licensed capital is capped at 50 billion EGP.

So, what happens if the valuation is deemed unsuitable?  The government will consider offering a stake in Banque du Caire on the Egyptian Stock Exchange instead of selling a controlling stake.