Qatari National bank is in talks to acquire Naational Societe General Bank ! ( more in the ahram article: http://english.ahram.org.eg/NewsContent/3/12/51841/Business/Economy/Qatar-National-Bank-picks-JP-Morgan-for-Egypt-buy-.aspx )
at first thought i was like DAMN THE QATARIs are coming!! the QATARIs are coming!!
then i realized as i read the ahram article, its not that the Qataris are coming, its The French are leaving !! as i got more towards the end of the the article it appeared that both French banks SocGen and BNP Paribas ” are shedding non-core assets globally and assets in Egypt are seen as ripe candidates for divestment “
So QNB is here to pick up the pieces ! oh here are two other random points i found out
- rumor has it that NSGB will be rebranded as QNB … so people in advertising get ready for a massive new bank campaign role out !!
- QNB operates in around 16 different countries, so its not a small bank, and its majority owned by the Qatar Sovereign Wealth, so major $$$