By: Eslam Fadl

Cairo – Mubasher: The Egyptian Arab Land Bank (EAL Bank) has acquired a building owned by the Export Development Bank of Egypt.

The new building will become EAL Bank’s new headquarters.

Located in Mohandessin, the building in question has been purchased to accommodate all of EAL Bank’s central departments, making it the bank’s new primary headquarters, chairman Amr Kamal told Mubasher in exclusive statements on Monday.

He further added that the bank will open a new office in the New Administrative Capital over the span of the next three years, giving no further details as to the cost of that upcoming investment.

Meanwhile, Mervat Sultan, president of the Egyptian Export Development Bank, said that her bank has relocated its HQ to the Fifth Settlement a month ago. Sultan did not disclose the value of the deal with EAL Bank.