Egyptian security officials say a bomb exploded next to a bank in the coastal city of Alexandria, wounding four people.

The officials, speaking on condition of anonymity because they were not authorized to speak to reporters, say the improvised explosive went off Saturday near a local branch of an international bank.

This comes on the same weekend that the Egyptian government is hosting a major international economic conference in the Red Sea resort city of Sharm el-Sheikh.

Some militants recently have launched a campaign of small bombings targeting local and foreign business interests, including banks, mobile phone service providers and fast food restaurants.