Al Ahli Bank of Kuwait - Egypt Receives the Best Retail Bank - Egypt 2024 Award from MENA Banking Excellence Awards 2024
Cairo, May 2024: Al Ahli Bank of Kuwait – Egypt (ABK-Egypt), has been recognized as the Best Retail Bank in Egypt at the prestigious MENA Banking Excellence Awards 2024 hosted by MEED International Magazine. This recognition celebrates ABK-Egypt's excellence in retail banking and relentless pursuit of innovation, value creation and customer-centricity. The ceremony took place at Kempinski the Boulevard Hotel in Dubai, bringing together leaders and representatives of distinguished banks and firms from across the MENA Region.
Read moreAl Ahli Bank of Kuwait – Egypt Records EGP 3.2 billion Net profit in the first Quarter of 2024
Cairo, May 2024: Al Ahli Bank of Kuwait - Egypt (ABK-Egypt) recorded breakthrough financial results for the first quarter of 2024, achieving a significant increase in Net Profit by 189%, which stood at EGP 3.2 billion compared to EGP 1.1 billion over the same period in 2023. Net Interest Income increased by 71% to reach EGP 1.4 billion by the end of March 2024 compared to EGP 841 million over the same period in 2023, while Net Fees and Commissions income grew by 165% to reach EGP 477 million compared to EGP 180 million over the same period last year.
Read moreAl Ahli Bank of Kuwait Supports Kuwaiti Students in Egypt through Sponsoring (EGNUKS) Conference
Cairo, April 2024: Al Ahli Bank of Kuwait (ABK) is pleased to announce its sponsorship of National Union of Kuwaiti Students – Egypt’s (EGNUKS) recent conference held over a period of two days in Alexandria Governorate. This initiative reflects the Bank’s commitment to enriching Egyptian Kuwaiti relations and empowering youth on their academic journey.
Read moreAl Ahli Bank of Kuwait – Egypt Organizes a visit to 57357 Children’s Hospital to decorate the Hospital in celebration of the Holy month of Ramadan
Cairo, March 2024: With an innate understanding of the crucial role of corporate social responsibility in the development of local communities, and in celebration of the upcoming Holy month of Ramadan, Al Ahli Bank of Kuwait – Egypt (ABK-Egypt) organized a staff visit to Children’s Cancer Hospital Egypt 57357. As done over the past years, a group of staff members volunteered to take part in a recreational day to spread joy among patients and their families, handing out gifts to little children and decorating the Hospital with Ramdan theme in celebration of the upcoming Holy month.
Read moreAl Ahli Bank of Kuwait - Egypt leads a banking alliance to finance Idea Verde Real Estate Investment –The Waterway valued EGP 575 million
Cairo, March 2024: Al Ahli Bank of Kuwait - Egypt (ABK-Egypt) announced leading a long-term syndication alliance for 575 million Egyptian Pounds in its capacity as the lead arranger and facility agent of the transaction with a share of 350 million Egyptian Pounds with the participation of MIDBANK with a share of 225 million Egyptian Pounds and Al Ahli Kuwait Egypt Leasing Company as the security agent. This long-term syndication loan aims to provide a credit line for Idea Verde Real Estate Investment Company to finance the cost of the company’s activities and new real estate and investment projects over a period of five years.
Read moreAl Ahli Bank of Kuwait - Egypt achieves breakthrough Results for the Financial Year 2023 with Net Profit recording EGP 2.8 billion
Cairo, February 2024: Al Ahli Bank of Kuwait - Egypt announced record financial results for the fiscal year 2023, reporting a record increase in the Bank’s Net Profit by 67%, which stood at EGP 2.8 billion compared to EGP 1.7 billion in 2022. Net Operating Profit reached EGP 3.9 billion, representing an 82% year-on-year increase compared to EGP 2.2 billion in 2022. As for ABK-Egypt’s financial position, Total Assets stood at EGP 97.6 billion, recording a 29% growth compared to EGP 75.6 billion in December 2022.
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