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French bank buys share in Egyptian bank
Egypt, Business, 7/31/1999
Credit Commercial de France (CCF) bought all shares held by the Egyptian Ahli Bank, valued by 24.32%, in Credit International Egypt bank.
Official sources in CCF said that according to this purchase, the shares of CCF in CIE rose from 50.51% to 74.83%.
The sources added that this development reflects the trust of the French in the Egyptian economy, specifically the banking sector, adding that this investment confirms the desire of the French bank to develop and vary the activities and services of the credit bank in coordination with the technique and strategy of CCF all over the world.
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