Dubai – Mubasher: Emirates NBD is holding preliminary discussions with Lebanon's Blom Bank for a potential acquisition of Blom Bank's existing shareholding in Egypt.

The completion of any transactions is uncertain, as the discussions are still ongoing, according to the bank's disclosure to the Dubai Financial Market (DFM) on Thursday.

The Emirati bank continuously evaluates potential opportunities in different markets, the statement further noted.

It is noteworthy to mention that in the first half (H1) of 2020, the bank's net profits plunged by 45% to AED 4.09 billion, compared to AED 7.48 billion during the same half of 2019.