QNB eyes Libya expansion with 49% BCD stake

The QNB Group has acquired a 49% stake in the Bank of Commerce and Development (BCD), one of the leading private banks in Libya.

The announcement was made during the extraordinary general assembly of the BCD which was held in Benghazi, Libya on Thursday. It approved the QNB Group as a strategic partner, according to the memorandum of agreement between the two institutions. However, QNB was silent on the value of the deal.

The QNB Group – which will be represented in the Libyan bank’s board …read more


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