Hassan Abdalla, Governor of the Central Bank of Egypt, said Banque du Caire’s initial public offering on the Egyptian Exchange was record-breaking by every measure despite the surrounding challenges, reflecting years of work by the state, the central bank and the bank itself.
Speaking on the occasion of the start of trading in Banque du Caire shares, Abdalla described the offering’s success as a source of pride and a demonstration of confidence in Egypt’s banking sector. He stressed that this confidence was built on sustained efforts over many years.
The governor expressed his appreciation to the teams involved in executing the offering, highlighting the extensive work and close coordination between Banque du Caire, the central bank and the various parties involved.
He attributed the offering’s success to a collective effort and thanked everyone who contributed. Abdalla also hinted at further developments involving upcoming offerings, without providing additional details.
He extended particular thanks to the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD), noting that their participation as anchor investors came despite significant headwinds and demonstrated their confidence in the bank.
Abdalla said the two institutions’ participation adds a distinctive dimension to Banque du Caire’s position within Egypt’s banking sector. He concluded by wishing the bank and all those involved continued success.
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