First Abu Dhabi Bank to acquire the Egypt subsidiary of Bank Audi.

First Abu Dhabi Bank, a bank in the United Arab Emirates, agreed to acquire the Egypt subsidiary of Bank Audi, a Lebanon-based universal bank. Financial terms were not disclosed. “This transaction represents the best outcome for all our constituencies, in particular our customers and our employees in Egypt based upon the challenges we have been facing in Lebanon for the past 16 months.” He added: “This transaction also represents a strong vote of confidence in the effectiveness of the Group’s governance and business model across the region," Samir Hanna, Bank Audi Chairman and Group CEO.