CAIRO: Egypt's central bank said on Wednesday that it intended to fully divest its stake in The United Bank as part of the government's stake sale programme and had appointed Barclays Bank PLC as international financial advisor.

Barclays would execute its mandate alongside CI Capital Investment Banking as the local financial advisor, the central bank said in a statement.

United Bank had total assets of 60 billion Egyptian pounds ($1.94 billion) and total equity of 10.7 billion pounds as of December 2022, with a capitalisation ratio of 21%, the central bank said. ($1 = 30.8500 Egyptian pounds) (Reporting by Aidan Lewis; Editing by Toby Chopra)