Al Ahli Bank of Kuwait – Egypt sponsors the 13th edition of the Kuwaiti Business week in Egypt
In line with all efforts to support the Egyptian-Kuwaiti relations, Al Ahli Bank of Kuwait – Egypt (ABK-Egypt) recently sponsored the Kuwaiti Week in Egypt 13th edition held under the auspices of Egyptian Prime Minister Dr. Mostafa Madbouly organized by the Kuwaiti embassy in Cairo and Jabriya Exhibition Group headed by Mr. Ahmed Ismail Behbehani, with the attendance of Kuwait’s Ambassador to Egypt Ghanem Saqr Al-Ghanem & in the presence of ministers Mr. Mohamed Maiet Minister of Finance, Mr. Ahmed Samir Minister of Trade and Industry, Mr. Ali El Moselhi Minister of Supply & Internal trade Major general Khaled fouda Governor of South Sinai who have honored us with their presence at ABK – Egypt booth during the event & elite businessmen as well as banks & Kuwaiti companies operating in Egypt. The exhibition took place in December 2022 for three days starting on the 19th and ending on the 21stin Semiramis InterContinental Cairo hotel.
Al Ahli Bank of Kuwait – Egypt expressed its delight in taking part in this important initiative that showcases and strengthens the bond between the two countries through shedding the light on the great progress achieved by Kuwaiti institutions operating in Egypt and positively accelerating the growth of our economy. The Bank has also felt pride in showcasing its success journey since entering the Egyptian market in 2016.
It is worth mentioning that ABK-Egypt has achieved remarkable growth & strong financial performance in the nine-month period ended in September 2022. The Bank reported a Net Profit of EGP 1.3 Billion, representing a 104.8% growth compared to EGP 616 Million over the same period last year. Net Interest Income reached EGP 1.96 Billion, representing a 26.6% rise compared to EGP 1.55 Billion in September 2021, and total Assets increased by 15.7% to reach EGP 65.7 Billion compared to EGP 56.8 Billion in December 2021 driven by strong business performance.
The exhibition hosted a large number of representatives from Kuwaiti public and private institutions, investment companies, as well as representatives from both the Egyptian and Kuwaiti business communities including ministries, official bodies, and companies in various business sectors.
During the exhibition, participants and attendees were given the opportunity to explore investment opportunities, learn more about the latest partnerships currently taking place between both countries, and engage directly with sector specialists and leading business investors.
