Blom Bank Egypt has concluded its acquisition of the Investia brokerage firm in Egypt and re-launched the company as Blom Securities, according the Saad Al-Azhari, the bank’s chairman.
He said that the bank’s takeover of a large brokerage firm in Egypt was part of its strategy to expand in the financial market after acquisition of Misr-Romania Bank in a deal valued at LE 591 million.
“The bank will also focus on retail banking services, especially personal loans, auto purchases and housing lending, he added.
The Chairman of Blom Bank Egypt said the bank was revving up toward penetration of non-banking financial activities and would announce a clear strategy in this field early next year.
Blom Bank Egypt is 99 percent owned by one of the largest Lebanese financial groups. The bank has eight branches in Egypt and five in Romania.
