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ABK - Egypt Recognized as ‘Best New Brand in Egypt’ by the Banker Middle East

Cairo, Egypt; 15th May, 2017 - Al Ahli Bank of Kuwait - Egypt (ABK – Egypt) was presented with the ‘Best New Brand in Egypt’ award by the “Banker Middle East”, in recognition of the Bank’s exceptional turnaround and significant growth achieved following the acquisition of Piraeus Bank Egypt. The award was received by Mr. Ali Marafi, ABK - Egypt Chairman and Mr. Khaled El Salawy, ABK - Egypt CEO & Managing Director, during a ceremony held on 11 May, 2017 at the Emirates Tower Hotel, Dubai.

The ‘Best New Brand in Egypt’ award was earned in recognition of the Bank’s exceptional turnaround following the acquisition and the prompt rebranding under the name ABK - Egypt. Strategies were aligned with the Group and several new services were introduced to cater for the needs of the Egyptian market. Moreover, ABK - Egypt recorded considerable growth in all its key performance indicators, with total assets growing by 62 %, loans by 82 % and customer deposits by 50 %, a true testament to the new successful management approach.

Commenting on this remarkable achievement, Mr. Ali Marafi said: “We stand proud today of this achievement and grateful for the recognition received by Banker Middle East, after less than 2 years of operations as ABK - Egypt. ABK is a solid financial institution and since it has expanded its presence  in the Egyptian market, it has set new horizons for what  it aspires to achieve and has created a more powerful force to drive its vision to reimagining a simpler bank and its mission to consistently provide experiences that simplify and enrich people’s lives.”

Mr. Khaled El Salawy also emphasized on the great value of this award and reinforced the Bank’s commitment to rolling out the Simpler Banking strategy across ABK - Egypt operations through offering the products and services that cater to customers’ needs. He said: “The success of our brand in Egypt came as a result of the seamless transition that took place post the acquisition and the swift setup of operations across our branch network. We are proud of what we have achieved to date and we look forward to the next phase of our journey”.

ABK - Egypt was established when ABK acquired Piraeus Bank Egypt in 2015, as part of the Group’s plans to expand its regional presence, reinforce the Bank’s competitive position and provide additional value to clients and stakeholders.

 For more information about ABK – Egypt, please visit www.abkegypt.com  or contact our 24/7 call center on 19322.