Cairo – Mubasher: Union National Bank – Egypt (UNB Egypt) is close to finalise all the procedures required to submit the voluntary desliting request to the Egyptian Exchange (EGX).  

The minutes of the general assembly has not been approved yet, as the approval procedures at the General Authority for Investments and Free Zones (GAFI) require the Central Bank of Egypt’s (CBE) approval on amendments to article (8) regarding changing the name of the major shareholder to execute the merger procedures conducted in the UAE, according to a statement to the EGX on Tuesday.

The bank also noted that it has received the CBE's approval and is working on amendments to the said article.  

It is noteworthy that during the nine-month period ended 30 September, UNB Egypt achieved 33% higher net profits at EGP 283.9 million from EGP 213.17 million in the corresponding period in 2018.