BLOM Bank SAL (BDB:BLBD) said August 11, 2020 that it would sell its Egypt subsidiary. In a statement, BLOM explained that it has sent a request to Egypt Central Bank to allow it to sell its stake in BLOM Bank Egypt S.A.E. Chairman and General Manager of BLOM Saad Azhari told The Daily Star that his bank received more than one offer to buy the bank's stake in Egypt, but declined to reveal the names of the interested parties. "We can't say the real value of our subsidiary in Egypt but we will take the best offer," he added.

Some news media said that Emirates National Bank of Dubai was interested in acquiring BLOM Egypt to expand its investment in the lucrative Egyptian market.