Al Ahli Bank launches its op­er­a­tions in Egypt

Kuwait Times - - LOCAL -

CAIRO:

Al Ahli Bank of Kuwait an­nounced yes­ter­day the of­fi­cial launch of its op­er­a­tions in Egypt through its sub­sidiary ‘Al Ahli Bank of Kuwait - Egypt’ and in­au­gu­rated its Za­malek Flag­ship branch and Smart Vil­lage Head­quar­ters. This fol­lows the re­brand­ing of the Bank af­ter its re­cent ac­qui­si­tion of Pi­raeus Bank Egypt (PBE). The rib­bon cut­ting cer­e­mony to cel­e­brate the oc­ca­sion was at­tended by Mai Abul­naga, As­sis­tant Sub Gover­nor Cen­tral Bank of Egypt Gover­nor’s Of­fice, Ali Ebrahim Marafi - Chair­man of ABK - Egypt, Michel Ac­cad, Group CEO, Khaled El Salawy, CEO - Egypt, Ab­dulla Al Su­mait, Deputy Chief Gen­eral Man­ager - ABK Kuwait, Board Members and Man­age­ment rep­re­sen­ta­tives.

Speak­ing at the in­au­gu­ra­tion, Ali Marafi, Chair­man of ABK - Egypt, said: “It is a great mo­ment for ABK to in­au­gu­rate our Head­quar­ters in Smart Vil­lage as well as our Za­malek Flag­ship Branch, and we are de­lighted to of­fi­cially launch our op­er­a­tions in Egypt.” Marafi added, “The ac­qui­si­tion of PBE is in line with ABK’s vi­sion of ex­pand­ing into for­eign mar­kets. Egypt, with its well-reg­u­lated yet un­der­pen­e­trated bank­ing market has been a main fo­cus area and the Bank is very proud to have now be­come an im­por­tant part of Egypt’s bank­ing in­dus­try. We are look­ing for­ward to in­crease our busi­ness and sup­port the Egyp­tian econ­omy, with the Bank’s strong pres­ence and rep­u­ta­tion for qual­ity, cus­tomer ser­vice and re­li­a­bil­ity in the region.”

Khaled El Salawy, ABK -Egypt CEO, stated: “ABK - Egypt is strongly com­mit­ted to its role in sup­port­ing the Egyp­tian econ­omy through a clearly de­fined strat­egy that is founded on sup­port­ing and fi­nanc­ing Cor­po­rate and SME clients in var­i­ous in­dus­tries with in­no­va­tive fi­nan­cial so­lu­tions. We will also drive fo­cus on the re­tail seg­ment through a di­ver­si­fied port­fo­lio of prod­ucts and ser­vices that cater to cus­tomers’ growing needs.” For more de­tails about ABK - Egypt branches, prod­ucts and bank­ing so­lu­tions, please call 19322 or visit our web­site: www.abk­egypt.com.

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