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ABK- Egypt signed an agreement with EFG Hermes Leasing to support Small and Medium sized Enterprises (SMEs)

Al Ahli Bank of Kuwait (ABK- Egypt) signed an agreement with EFG Hermes Leasing to support Small and Medium sized Enterprises (SMEs) in line with the Bank’s strategy and efforts to empower SMEs with a full suite of solutions that enable them to grow their businesses.

The signing ceremony took place in ABK – Egypt Head Office where the agreement was signed by ABK-Egypt CEO & Managing Director, Mr. Khaled El-Salawy, EFG Hermes Leasing Chairperson, Mrs. Fatma Lotfy and EFG Hermes Leasing CEO, Mr. Ahmed El-Kholy, in the presence of ABK-Egypt Chairman, Mr. Ali Marafi and senior executives representing both institutions.

After the signing ceremony, El-Salawy stated; “ABK-Egypt’s strategy pays special focus to SMEs, for which we developed a bouquet of tailored products and services to cater for the needs of this key sector. Currently, ABK-Egypt is embarking on a number of initiatives in line with the Central Bank of Egypt’s directions and initiatives and aiming at offering maximum support to this sector.”

“The role of ABK-Egypt SMEs Unit goes beyond offering financial solutions to our clients”, continued El-Salawy. “The bank seeks to empower SMEs with a comprehensive array of services that respond to their actual needs and offers efficient, flexible solutions and suitable alternatives to help them grow their businesses.  ABK-Egypt will continue to offer distinct services that ensure value for our clients regardless of the size of their business, which stems from our belief in the significance of this sector as a key platform for sustainable growth”.

Ahmed El-Kholy, CEO of EFG Hermes Leasing commented, “Signing this agreement provides targeted, innovative solutions to the SME sector, which will become a key driver of Egypt’s economic growth in the near future. This cooperation comes in line with a series of agreements that EFG Hermes Leasing has signed in response to the changes in the domestic business environment and is a continuation of our roll-out of diversifying our product offering.”

El-Kholy further emphasized that this agreement attests to the strong relationship between EFG Hermes Leasing and ABK-Egypt who are keen to offer tailored solutions that cater to Egyptian businesses of all sizes.