Al Ahli Bank of Kuwait-Egypt participates in a syndicated loan to finance Elsewedy Electric Group with EGP 400 Million
Egypt, Cairo October 2022:In line with national directions and Central Bank of Egypt’s initiatives supporting the industrial sector to ensure achieving sustainable development and economic growth, Al Ahli Bank of Kuwait - Egypt (ABK-Egypt) announced its participation in a syndicated loan to Elsewedy Electric Group.
Read moreABK-Egypt launches lucrative Credit Card Cash Back offers
Cairo: October 2022Al Ahli Bank of Kuwait - Egypt (ABK-Egypt) announced the launch of several Credit Card Cash Back campaigns over the past period and till end of year, offering 10% Cash Back to all ABK- Egypt Credit Cardholders on all local and international credit card purchases during September and October as well as Cash Back offer on Fuel payments with cards in all gas stations till end of 2022.
Read moreAl Ahli Bank of Kuwait - Egypt organizes a full week awareness campaign on financial inclusion at Al - Nahda University in Beni Suef Governorate
Egypt, Cairo October 2022 :As part of Al Ahli Bank of Kuwait Egypt’s (ABK-Egypt) leading role in supporting financial inclusion and promoting financial literacy among unbanked segments, and in line with the Egyptian Government direction and the Central Bank of Egypt initiatives, the Bank took part in celebrating International Savings Day that took place during the period from October 15th to 31st 2022, through its active presence for a full week in Al-Nahda University in Beni Suef Governorate.
Read moreAl Ahli Bank of Kuwait – Egypt launches an awareness campaign on financial inclusion in Beheira Governorate
Egypt, Cairo September, 2022: Under the auspices of the Central Bank of Egypt (CBE), Al Ahli Bank of Kuwait - Egypt (ABK-Egypt) launched an awareness campaign during the month of September to celebrate "Egyptian Farmer’s Day" with the objective of raising awareness on financial inclusion and digital banking services in Beheira Governorate.
Read moreAl-Ahli Bank of Kuwait -Egypt participates in “International Youth Day” initiatives
Egypt, Cairo August,2022: Al Ahli Bank of Kuwait – Egypt (ABK – Egypt) participated in the “International Youth Day” under the auspices of Central Bank of Egypt (CBE), through its presence in “Matrix club” in Tanta governorate and “Suez sporting club” in Suez governorate.
Read moreAl-Ahli Bank of Kuwait - Egypt achieves Solid Net Profit of EGP 887 Million
In the first half of 2022, Al Ahli Bank of Kuwait - Egypt (ABK-Egypt), announced today achieving breakthrough results for the six-month period ended 30th of June 2022 reflecting solid growth in business volume and very strong performance over the course of the year. The Bank achieved EGP 887 Million Net Profit compared to EGP 396 Million in the first half of 2021 and Net Interest Income grew by 27% to reach EGP 1.3 Billion compared to EGP 1 Billion over the same period in 2021. According to the Bank’s announced results, Total Assets grew by 8% to reach EGP 61.4 Billion compared to EGP 56.8 Billion in December 2021, Total Customer Deposits witnessed an increase of 12% to reach EGP 53.7 Billion compared to EGP 47.9 Billion, and the Bank’s Total Gross Loans Portfolio increased by 13% to reach EGP 30.85 Billion compared to EGP 27.4 Billion at the end of 2021. The Non-Performing Loan (NPL) ratio reached 2.28%, with a coverage ratio exceeding 170%.
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