Banque Du Caire to open Dubai representative office in Q1-2019

Egypt’s Banque Du Caire plans to open a representative office in Dubai within the first quarter of 2019, the country’s third biggest state-run lender chairman Tarek Fayed said on Saturday.

The bank studies opening two representative offices in China and Russia to finance trade and investment operations within the next period, Fayed said on the sidelines of his participation in Africa 2018 Forum that kicks off in Egypt’s tourist resort of Sharm El-Sheikh.

Africa Forum, Egypt’s biggest international gathering, is placing this year place special focus on issues of concern to African youth and women empowerment. The first day’s events will feature a Young Entrepreneurs’ Day and a discussion on Women Empowering Africa.

Also, Banque Du Caire looks to open two new representative offices in Tanzania and Kenya within the coming period,” he said, adding that this comes as part of the bank’s plan to expand its businesses in the Africa among the state’s strategy to boost cooperation with the continent

“African market has a promising future in the banking field, which prompted the financial institution to acquire majority share in one of the banks in Uganda to be a starting point in the African banking market,” Fayed said.