DUBAI Jan 16 Qatar National Bank, the
Gulf state's largest lender by market value, said on Wednesday
it hopes to complete the process of buying a majority stake in
Societe Generale's Egyptian unit in the next
QNB expects Egyptian central bank approval for the purchase
in the next two weeks, Chief Financial Officer Ramzi Mari said
in a conference call.
Mari also said the bank expects loan growth of 15 percent in
2013, before the inclusion of the Egyptian arm. Loans and
advances grew nearly 30 percent in 2012.
The bank is expecting to report a 10 percent increase in
2013 net profit, before taking the consolidation of the Egyptian
arm into account, Mari said.