QNB Group officially announce the acquisition of a controlling stake in NSGB

Posted on : Thu, 28 Mar 2013

Doha, March 28, 2013: QNB Group officially announced today the successful completion of acquiring a controlling stake in National Société Générale Bank - Egypt (NSGB). The final percentage of shares acquired is 97.12%, which included Société Générale (SG) entire stake in NSGB of 77.17% and 19.95% via the Mandatory Tender Offer.

Egypt is the 4th largest economy in the MENA region and a market that is integral to QNB Group in achieving its goal to become a Middle East and Africa Icon by 2017.

NSGB is the second largest private bank in Egypt with 160 branches across the country, and more than 4,500 employees.