Qatar National Bank has received approval from Egypt's central bank to start due diligence on Societe Generale's Cairo unit, ahead of a possible majority stake sale to the Doha-based lender.

QNB got the green light from Egyptian regulators to start due diligence on National Societe Generale Bank on September 12, the company, which is 77.17% owned by struggling French bank Societe Generale, said in a statement on Thursday to the Egyptian bourse.

Qatar National Bank gets nod to start due diligence on SocGen Egypt unit

Egyptian regulators have given the Gulf bank the green light ahead of a possible sale

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Societe Generale

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Former chair of the John Lewis Partnership is joining the Canadian pension fund giant early next year

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The president-elect floated the idea during a Wednesday meeting with the former Fed governor.

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Research group GfK’s measure of consumer confidence climbed to minus 18 in November’s survey from minus 21 in October.

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