Al Ahli Bank of Kuwait – Egypt receives Fastest Growing Retail Bank Egypt Award

Al Ahli Bank of Kuwait – Egypt (ABK-Egypt) has been recently recognized as the “Fastest Growing Retail Bank in Egypt” by International Business Magazine in addition to ABK-Pay sticker being the “Best Advanced Digital Payment Solution”. This recognition which took place at the annual ceremony held in Dubai – UAE, highlights the Bank’s outstanding achievements throughout the year in the retail banking sector and underscores its continuous efforts to enhance its offerings to meet the growing needs of customers.

Commenting on this achievement, Mr. Ali Marafi, Chairman of ABK-Egypt, expressed his pride in this recognition, stating: “These recent awards reflect the Bank’s tireless efforts to achieve excellence in providing the best banking products and services, as well as its commitment to the highest standards of innovation and customer service. The Bank consistently strives to strengthen its position in the Egyptian banking arena by understanding market demands and contributing to the development of the financial sector in full alignment with the efforts of the Central Bank of Egypt (CBE). Moreover, we believe that the constant pursuit of innovation is essential as one of the key drivers of sustainable growth, and we look forward to achieving more success stories over the coming years”.

In the same context, Mr. Khaled El-Salawy, CEO and Managing Director of ABK-Egypt, stated: “Receiving these awards highlights our unwavering commitment to performance excellence, and reflects our vision and continuous dedication to extending exceptional financial solutions that keep us ahead of the accelerated changes in the banking sector. As we enter 2025, we are geared with determination and optimism to achieve a leading position in the Egyptian market”.

As another acknowledgement to the driving force behind this recognition, Mr. Khaled El-Salawy, also praised the diligent efforts of the entire team and the Executive Management in expanding the Bank’s customer base and attracting new segments through the implementing a structured and ambitious strategy towards digital transformation. This includes further investing in digital infrastructure, enhancing branches with the latest technologies in the financial sector, and focusing on innovative digital payment services. He also emphasized that customer satisfaction is among the Bank’s top priorities, and that the Bank consistently works on improving its offerings to create added value for its customers and providing exceptional services that meet their daily needs with ease, speed, and security.

Reaffirming the outstanding achievements in retail banking, Mr. Khaled Barakat, Deputy CEO – Consumer Banking ABK-Egypt, said: ” Being recognized as the fastest-growing retail business for the second consecutive year is a testament to our significant efforts and our efficiency to achieve strong performance indicators and capture a larger market share. He also mentioned that ABK-Egypt is growing its retail portfolio through enhancing service quality and launching new products with competitive benefits in line with the latest technologies and the growing needs of all customer segments.

Despite challenging market conditions, 2024 was an outstanding year for ABK-Egypt, delivering exceptional growth rates across all business performance indicators. Individual deposits grew by 46.7%, to reach total to EGP 31.5 billion and the personal loans portfolio grew by 25%, reaching EGP 20.9 billion. ABK-Egypt credit card portfolio also grew by 51% with EGP 275 million, to stand at EGP 813 million.

In 2024, digital banking services and alternative channels witnessed significant growth, reflecting the Bank’s commitment to innovation and customer centricity. These transactions saw an exceptional increase by 71.2% since the beginning of the year and over 80.1% growth compared to the previous year, which enhanced ABK-Egypt’s position in providing efficient and secure digital banking services.

It is worth mentioning that ABK-Egypt was also recognized as the Best Retail Bank in Egypt at the prestigious MENA Banking Excellence Awards 2024 hosted by MEED International Magazine in Dubai UAE, highlighting its relentless pursuit of innovation, value creation and customer-centricity.