Company Analysis of Free Standing Company - National Bank of Egypt Essay

high society Analysis of Free Standing Company - case brink of Egypt - Essay ExampleThis report entrust analyze National avow of Egypt as a free standing company and then the char beeristics of National desire of Egypt will be compared with the views of Mira Wilkin with respect to free standing company. Past and Present of the National Bank of Egypt (NBE) and its Acquisitions and Mergers (as a free standing company) National wedge of Egypt is the oldest commercial argot of Egypt. It has been operating for the last 114 years. The bank was established in June, 1898, with the investment of one million pounds (National Bank of Egypt a). It is believed that bank of Egypt was formed by partnerships of variant important people namely, Sir Ernest Cassel, Isaac Suarez and his siblings Joseph and Felix and various other members. However, since Sir Ernest was keen on not leaving the United Kingdom, therefore, beginning office of National bank of Egypt was created in London (National B ank of Egypt UK Branch 2012). Since then National Bank of Egypt has opened various branches around Egypt and some other countries of the world. It has opened its branch in Khartoum in 1901, and in next year Agriculture Bank of Egypt was set active. Similarly, it has merged with various other banks and in any case has acquired many banks around the globe to capitalize on different opportunities regardless of the geographic region. National Bank of Egypt has a rich history of these mergers and acquisitions and some of these have been discussed below. Bank of Abyssinia came into being in 1906 and was established by National Bank of Egypt, which in many ways performed its duties for the Ethiopian government. This bank has also issued currency for Ethiopia and was the further issuer of currency for the government. Moreover, Bank of Abyssinia has also provided its go as a fiscal agent for the Ethiopian government. However, these services were later terminated in 1931 as Ethiopian gover nment established Bank of Ethiopia as an alternative. In the year 1951, National bank of Egypt was recognized as the central bank for Egypt, but it was later substantiate in 1957 (by banking acts) and started its operation as a legal central bank of Egypt. Another important breeding by National Bank of Egypt was that it started operating in Sudan all assets of the bank which were in the premises of Sudan were designedly nationalized by the Sudan government in order to come up with the new bank for the country. This was later named as Central Bank of Sudan. Similarly, in a year (1960), Bank of Egypt was also nationalized. The main purpose for this act was to create a separate central banking entity for Egypt (Egypt News 2012). National Bank of Egypt acquired Citibank of Egypt in 1961, as this bank entered the Egyptian market 6 years before its acquisition. However, the prime reason for Citibank to leave the market was because of the communisation process carried out in the Egypt. Furthermore, one of the important milestones of Bank of Egypt was to establish Commercial International Bank. With the table service and partnership of track Manhattan Bank or, in simple words, the merger between National Bank of Egypt and Chase Manhattan Bank has resulted in establishing Commercial international Bank in the year 1975. Likewise in a year (1976), another important merger came into existence, as NBE along with 19 other banks from the US and Arabic countries merged together in order to establish Arab American Bank. National Bank of