- Banque du Caire
Infobox_Company
company_name = Banque du Caire
company_| company_type =
company_slogan =
foundation =15 May ,1952
location = flagicon|EgyptCairo
key_people = Mr. Mohamed Kamal El-Din Barakat, Chairman
Mr. Mohamed Yehia Saim Ozalp, Vice Chairman
Mr. Mohamed Ahmed Kafafi, Vice Chairman
num_employees = ~
operating_income = ~ EP2.2 bn 2005
industry =Finance
products =Financial Services
homepage = http://www.bdc.com.eg/Banque du Caire, or "Bank of Cairo", is a full service
bank headquartered inCairo . The bank operates over 120 branches inEgypt . It has branches inthe United Arab Emirates and representative offices inUkraine and inZimbabwe , as well as affiliates or subsidiaries inSaudi Arabia ,Uganda (Cairo International Bank), andJordan (Cairo Amman Bank ).Among the bank's significant
subsidiaries are:Suez Steel , of which the bank owns the majority of the shares,Air Cairo , and theUnited Bank of Egypt , in which the bank holds a minority position. [http://www.bdc.com.eg/files/notes2.htm]The government of Egypt owns the bank, which however, it is considering privatizing.
History
*1952 Several wealthy families established Banque du Caire (BC) as a private bank.
*1954 BC established a branch inJeddah .
*1957 BC took over the Egyptian operations ofCrédit Lyonnais and theComptoir National d’Escompte de Paris (CNEP). which later becameBNP Paribas , after the Egyptian government nationalized all French and English banks (and later all foreign banks) in the wake of theSuez crisis . The bank viewed this step as a major milestone in its growth. [http://www.bdc.com.eg/about/html/bdc04.htm]
* Prior to 1959 BC established a branch each inDamascus ,Syria , andAmman ,Jordan , and later branches inAleppo andLatakia , both in Syria.
*1960 BC’s branch in Amman, Jordan becaome theCairo Amman Bank with BC retaining a minority position in the bank (12% in 1999.)
*1961 The Egyptian government nationalized BC.
*1962Banque Misr Liban absorbed BC’s branches inLebanon .
*1963 The Syrian government nationalized BC’s branches there, incorporating them intoBanque de l’Unite 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 toSaudi Cairo Bank for a 40% share, pursuant to Saudi Arabia’s nostrification program. That same year, BC (51%) joined withBarclays Bank (49%) to form Cairo Barclays International Bank.
*1977 BC joined withBanque 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 Bank was the largest shareholder with 32% and other Korean banks held 17%. BC owns 19%.
*In the 1970s, BC opened a branch atManama inBahrain and four in theUAE , atAbu Dhabi ,Dubai , Sharjah, andRas-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%.
*1997 Saudi Cairo Bank merged with United Saudi Commercial Bank to formUnited Saudi Bank . BC’s share position fell to 9.8%.
*1998 BC established Cairo International Bank as a joint-venture bank inUganda .
*1999 Ownership of Banque du Caire et de Paris is BNP 76% and BC 22%. United Saudi Bank merged intoSaudi American Bank . BC established representative offices atKiev in theUkraine andHarare inZimbabwe . 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.External links
* [http://www.bdc.com.eg/ Banque du Caire - English language]
* [http://www.bdc.com.eg/ Banque du Caire - Arabic language]
Wikimedia Foundation. 2010.