Al Ahli Bank of Kuwait – Egypt Receives Fastest Growing Bank – Egypt 2023 Award

Al Ahli Bank of Kuwait – Egypt (ABK-Egypt), has been recognized as the Fastest Growing Bank in Egypt for 2023 by International Business Magazine. This accolade celebrates ABK-Egypt’s noteworthy achievements and growth trajectory since the Group’s acquisition of Piraeus Bank Egypt in 2015.

Commenting on the accomplishment, Mr. Ali Marafi, Chairman of ABK-Egypt, said, “Winning the Fastest Growing Bank in Egypt 2023 award is a tremendous achievement for ABK-Egypt reflecting our strategic vision, unwavering pursuit of excellence, and ability to adapt to customers’ evolving needs. This recognition motivates us to continue to drive sustainable growth and deliver superior banking solutions to individuals and businesses across Egypt.”

Commenting on this achievement, Mr. Khaled El Salawy, CEO and Managing Director of ABK-Egypt, expressed his gratitude for winning this award, saying, “Being granted the ‘Fastest Growing Bank’ award is a testament to our commitment to achieving sustainable growth. It demonstrates our constant dedication to implementing our ambitious growth strategy that is pillared upon resilience and innovation. The Bank’s success in establishing a thorough understanding of the economic landscape across all sectors has enabled us to swiftly meet the needs of various customer segments.

Mr. Khaled El Salawy affirmed that our top priorities over the coming period is to focus on enhancing our infrastructure, investing in digital transformation, and developing the capabilities of our employees, stemming from our belief that human capital is the main driver of sustainable growth. He added that achieving this prestigious recognition is an attribute to the efficiency and commitment of our team, which allowed the Bank to reach this rank of success, and that he looked forward to achieving many more accomplishments in coming years.

One of the key factors contributing to ABK-Egypt’s success is its commitment to customer satisfaction. By prioritizing customer needs and investing in digital banking solutions, the Bank has enhanced its overall banking experience, enabling remote management of banking needs and guaranteeing ultimate speed and convince.

Furthermore, ABK-Egypt’s financial performance speaks volumes about its impressive growth. Over the course of seven years, the Bank has steadily increased its net profit to reach EGP 1.7 billion in the first half of 2023 and significantly expanded its customer base across corporate and retail banking segments, cementing its position as a trusted banking partner in the market.

Additionally, ABK-Egypt has optimized its branch network, ventured into new business lines, and conducted extensive brand-building campaigns to raise consumer awareness. The Bank’s tailored products and services for corporate, SMEs, and retail customers, combined with an expanded presence in 18 Egyptian governorates through a network of 45 branches, have contributed to its rapid growth.

Beyond its commercial performance, ABK-Egypt has always been keen on its Corporate Social Responsibility as an integral part of its well-articulated strategy. Since it started its operations in Egypt, the Bank has actively supported the communities in which it operates through various social initiatives, including providing financial relief, shelter, educational and medical support, and food supplies to the underprivileged.

ABK-Egypt strong performance and noticeable growth has been recognized over the years as the Bank received several prestigious awards from various reputable entities including “Best New Brand in Egypt”, “Best New Bank in Egypt”, “Fastest Growing Bank in Egypt”, “Most Innovative Bank in Egypt”, “Best Performing Bank in Egypt”, “Banker of the Year” awarded to Mr. Khaled El Salway – CEO & Managing Director, “Crisis Leadership Award” and “Best Technical Support Award” for its efforts towards making banking easier, more accessible and straightforward for its clients during all times.