PwC to conduct Egypt IDWBE bank restructure scheme in 6 months

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Egypt’s Industrial Development and Workers Bank (IDWBE) has signed an agreement with U.S. accountancy firm PricewaterhouseCoopers aimed at implementing an administrative and financial restructuring for the bank.

“The restructure process will take between four and six months.” IDWBE vice chairman Hamdy Azzam, told Amwal Al Ghad on Tuesday.

The shareholders’ structure in IDWBE is 84.4 percent for Egyptian Ministry of Finance, 3.3 percent for public sector, and 12.3 percent for private sector.