UAE banks said to bid for Citigroup's Egypt business

Citigroup has received 10 bids for its consumer banking business in Egypt, three sources with knowledge of the matter said on Tuesday, with banks from the United Arab Emirates heavily represented among the interested parties.

Emirates NBD (ENBD) and Mashreq are among those bidding for the business put up for sale by the U.S. lender in October, two of the sources said.

A third source identified National Bank of Abu Dhabi and Abu Dhabi Islamic Bank (ADIB) as having bid for the operations.

Citi declined to comment when contacted by Reuters. ENBD, Mashreq, NBAD and ADIB also declined to comment.