Sector: Banks & Financial Services
Market Value: $809 million
Bank ABC offers international wholesale banking services through a network of 145 branches across five continents and 15 countries. Following the acquisition of a 99.5% stake in BLOM Bank Egypt in 2021, the bank merged its two Egyptian subsidiaries, BLOM Bank Egypt and Bank ABC Egypt, in January 2023. In the same month, the bank closed a three-year $75 million term loan facility for the Industrial Bank of Kuwait. The bank’s net profit increased by 63.3% to $209 million in 2022. The Central Bank of Libya and the Kuwait Investment Authority are its major shareholders.