Banque du Caire
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Banque de Caire
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Company type | Private-sector bank |
---|---|
Industry | Banking and financial services |
Founded | 15 May 1952 |
Headquarters | Cairo, Egypt |
Key people | Tarek Fayed, Chairman & Chief Executive Officer |
Products | Financial services, consumer banking, investment banking, corporate banking, SME banking, global transaction banking, financial institutions |
2.5 Million EGP | |
Website | www.bdc.com.eg |
Banque du Caire is a bank in Egypt, founded in 1952. It has a variety of services and products across the corporate and retail segments.[1]
The bank has worked on the institutionalization of microfinance across banks to promote
In addition, it runs a representative office in the
UAE. The bank has[when?] 241 branches and 1,046 ATMs across Egypt and serves more than 3.2 million clients.[citation needed
]
History
This article is in prose. is available. (November 2022) |
- 1952 — Several wealthy families, chief among them, the Egyptian Jewish Cattaui dynasty, and the wealthy Jewish banking Sassoon family from Aleppo established Banque du Caire (BC) as a private bank.
- 1954 — BC established a branch in Jeddah.
- 1957 — BC took over the Egyptian operations of Suez crisis. The bank viewed this step as a major milestone in its growth. [3]
- 1959 — Prior to this, BC established a branch each in Damascus, Syria, and Amman, Jordan, and later branches in Aleppo and Latakia, both in Syria.
- 1960 — BC's branch in Amman, Jordan became the Cairo Amman Bank with BC retaining a minority position in the bank (12% in 1999.)
- 1961 — The Egyptian government nationalized BC.
- 1962 — Banque Misr Liban absorbed BC's branches in Lebanon.
- 1963 — The Syrian government nationalized BC's branches there, incorporating them into Banque de l’Unité Arabe (Bank of Arab Unity; est. 1961).
- 1964 — BC absorbed Banque de l’Union Commerciale (ex Credit Orient).
- 1975 — BC contributed its five branches in Saudi Arabia to Barclays Bank(49%) to form Cairo Barclays International Bank.
- 1977 — BC joined with Banque Nationale de Paris (a successor to CNEP) to form Banque du Caire et de Paris.
- 1978 — BC joined with several Korean banks and other investors to found Cairo Far East Bank. Korean Exchange Bankwas the largest shareholder with 32% and other Korean banks held 17%. BC owns 19%.
- 1970s — BC opened a branch at Ras-al-Khaimah.
- 1983 — Cairo Barclays International Bank changed its name to Banque du Caire Barclays International.
- 1988 — Saudi Cairo Bank required recapitalization following difficulties, including earlier unauthorized speculation in precious metals by senior management. BC's share position fell to 20%.
- 1995 — BC joined with Cairo International Bank in Uganda.
- 1997 — Saudi Cairo Bank merged with United Saudi Commercial Bank to form United Saudi Bank. BC's share position fell to 9.8%.
- 1999 — Ownership of Banque du Caire et de Paris became BNP 76% and BC 22%. United Saudi Bank merged into . Barclays increased its stake in Banque du Caire Barclays International to 60% by buying an additional 11% from Banque du Caire.
- 2000 — Barclays bought out Banque du Caire's stake in Banque du Caire Barclays International.
- 2007 — BC essentially withdrew from its ownership of (Cairo Amman Bank) in Jordan, with Banque Misr taking over its shares.
- 2009 — Five shares of BDC are sold to Misr Investment Company, and another five to Egypt-Abu Dhabi Real Estate Investment Company.
- 2010 — All shares owned by Banque Misr are transferred to Misr Investment Company.
- 2018 — Launches a new leasing business under the name Cairo Leasing Corporation (CLC).
- 2019 — The Central Bank of the United Arab Emirates approved establishment of a BC branch office in the UAE.
References
- ^ a b Banque du Caire. "Annual Report 2020" (PDF).
- ^ Banque du Caire's Financial Statements 2005 Archived October 23, 2006, at the Wayback Machine
- ^ "Banque du Caire". Archived from the original on 2006-10-23.