News

Egypt: NBK- Egypt awards one of its customers to attend the FIFA World Cup opening match in Doha

In a special ceremony held at the headquarters of the National Bank of Kuwait – Egypt in cooperation with Visa on Monday 17th of October 2022. An award was presented to the winner of NBK VISA credit cardholders campaign that was launched during the period from late April to mid-September 2022 through reaching the highest number of purchases with an NBK Visa Credit Card, to win a paid trip to attend FIFA World Cup Qatar 2022 which included two Business Air tickets, a 4-night stay at a 5-star hotel in Doha, opening ceremony and match tickets, transfers and a companion of the customer's choice with upon

The award was won by Mr. Rashad Artin – Mustafa Al-Nahas branch customer which was presented by Mr. Amr El Alfy, Chief Business Officer, Mr. Ahmed Youssef, acting as Head of Consumer Banking, members of the executive management and consumer banking team from National Bank of Kuwait – Egypt, as well as the honor of celebrating the presence of Ms. Malak Al-Baba - General Manager of Visa International in Egypt and a number of executives of the company.

Egypt: NBK holds dinner banquet for the Kuwait Chamber of Commerce and Industry delegates

National Bank of Kuwait-Egypt (NBK-Egypt) held a dinner banquet in honor of the delegation representing Kuwait Chamber of Commerce and Industry that visited Cairo earlier this week to discuss further strengthening the economic cooperation between the two nations and expanding investment opportunities.

The banquet was held at the Four Seasons Cairo Nile Plaza and was attended by Kuwait's Ambassador to Cairo, H.E. Ghanem Saqr Al-Ghanim, Chairman of the Financial Regulatory Authority, Mr. Mohamed Farid Saleh, and Chairman of the Stock Exchange, Mr. Rami El-Dokany, along with a group of Kuwaiti and Egyptian businessmen.

Unbreakable Ties

As part of his welcoming speech, Mr. Isam Al-Sager. Vice-Chairman and Group Chief Executive Officer of National Bank of Kuwait, stressed the strong connections and deep bonds between Kuwait and Egypt, underscoring their strategic partnership and shared visions on various bilateral and regional issues, as well as the keenness of the two countries’ leaderships to promote these ties in a way that achieves the common interest of the Egyptian and Kuwaiti people.

“The Egyptian economic performance has recently showed remarkable growth in all sectors, as the State reaps the fruits of its successful economic reform that started years ago.” Al-Sager said.

Al-Sager also highlighted in his speech the comprehensive infrastructure development plan sweeping across the country, and the launch of numerous national projects in vital sectors, including transportation and energy, aimed at providing a favorable environment for economic growth and attracting foreign investments.

Strategic Vision
Al-Sager emphasized that NBK group has always maintained a proactive vision and a strategic course for its investments in the Egyptian market that has seen encouraging development and promising growth prospects over the past few years. “Our development plan has been put into high gear since 2007, effectively working on further developing our banking services and products, and successfully implementing our digital transformation strategy, supported by our state-of-the-art digital infrastructure and extensive expertise.” Al-Sager explained.

Al-Sager further clarified that NBK provides the best financial solutions and its top-notch advisory services to the Egyptian and Kuwaiti markets, utilizing the Group’s vast expertise and enormous capabilities, thus contributing to investment growth and aiding trade exchange as well as enhancing the cooperation between various business sectors and government agencies, which should reflect positively on the growth and prosperity of both economies. 

Best Bet
Al-Sager stressed that when it comes to the Egyptian economy and its potential, NBK has been on the right track for the past 15 years. NBK - Egypt has become the largest Kuwaiti investment in Egypt, noting that the Bank successfully positioned itself as a leading financial institute on the map of private banks operating in Egypt. 

“Our huge investment in the Egyptian market is a vote of confidence in this buoyant market and a strategic pillar in our long-term growth plan”. Al-Sager said. “NBK-Egypt has been making vast strides forward, achieving enormous growth and adopting a transformational approach. This is evident in the Bank’s growth, as total assets increased to about EGP 87 billion on the back of the rapid growth of our loan portfolio to EGP 48 billion through financing various sectors across the Egyptian market, including mega national projects and key development activities. NBK-Egypt also managed to successfully gain a leading position in the Egyptian banking sector, thanks to our strong balance sheet and our wide network spreading across key locations across the country, in addition to providing the latest banking solutions and industry-leading advisory services, in line with the latest digital banking trends.”. Al-Sager added.

Al-Sager also pointed out that the Group has also been focused on developing NBK-Egypt’s digital infrastructure, upgrading its IT foundation and electronic channels, and strengthening its competitive edge in the banking sector. Moreover, the Bank’s digital roadmap is firmly aligned with “Egypt Vision 2030”, the national direction and the Central Bank’s strategy focused on a smooth transition towards digital economy and financial inclusion.

Highlighting the Banks’ community involvement, Al-Sager stressed that NBK - Egypt is dedicated to serving the Egyptian community, with a special focus on being a reliable partner in the development process to accelerate the achievement of Egypt’s sustainable development goals as outlined in “Vision 2030”. It is worth noting that the Bank’s CSR contributions stood at around EGP 158 million over the past five years.
Presidential Reception

President Abdel Fattah El-Sisi received the delegation of Kuwait Chamber of Commerce and Industry visiting Cairo this week at the presidency headquarter in Cairo to discuss boosting the economic relations across various sectors and increasing investment opportunities between both countries.

The President asserted Egypt’s keenness to strengthen its communication with Kuwaiti investors and Egypt’s full commitment to pave the way to overcome any obstacles they may face. Meanwhile, the Kuwaiti delegation praised the attractive investment environment that Egypt is currently promoting, thanks to the strenuous steps taken by the Egyptian government to accommodate investors’ needs, highlighting the importance of the Egyptian market to Kuwaiti businessmen, as they continue to seek more investment opportunities in this lucrative market, capitalizing on the serious fundamental changes and investment climate reforms that the Egyptian government has undertaken.

The delegation pointed out that Kuwaiti investments in Egypt promote economic and social development, further consolidate and strengthen their cooperation, and encourage their cooperation to achieve sustainable development and improve trade exchange. The meeting was attended by Chairman of Kuwait Chamber of Commerce and Industry, Mr. Mohammad Al-Sager, and representatives of the Chamber, Kuwaiti government agencies, unions, and companies

Economic Forum

The Kuwaiti delegation attended the Egyptian-Kuwaiti Cooperation Forum, organized by the Federation of Egyptian Chambers of Commerce and Kuwait Chamber of Commerce and Industry. Among the key issues to be discussed during the forum was the signature of a cooperation protocol between both parties. The forum also discussed investment opportunities and the business environment in Egypt, major national projects across various sectors, including agriculture, industrial and real estate investment, in addition to tourism and service projects.

Other topics discussed during the forum included the Direct Investment Promotion Authority’s presentation on the investment climate in Kuwait. The forum was concluded by paying a visit to the New Administrative Capital to witness the latest development and infrastructure achievements of this vital national project.

Historical Ties

Egypt-Kuwait relations have been growing steadily throughout history, at all levels, officially and publicly. The strength of relations between the two countries stems from deep ties as they extend bridges of cooperation in all fields. Public and private sectors in Kuwait invest heavily in the Egyptian economy, with about USD 19 billion in investments, while trade exchange between Egypt and Kuwait stood at USD 5 billion in 2020. Moreover, Kuwait is Egypt's third largest Arab trading partner after Saudi Arabia and the UAE.

Egypt: NBK - Egypt celebrated colleagues’ children in high school with outstanding performance

In a familial atmosphere, NBK - Egypt held a ceremony honoring colleagues’ children in high school of outstanding performance, those who achieved a total score of 80% or more for the literary section and 90% or more for the scientific section. Students were celebrated & honored with gifts and certificates of appreciation, presented to them by the bank. In the presence of Mr. Yasser El-Tayeb - Vice Chairman of the Board, CEO and Managing Director, Mrs. Hanan Thabet - Head of Human Resources Division, Mr. Medhat Elmasry - President of the Bank's Social Services Association, and several members of the bank's senior management, colleagues and families of outstanding students.

During the ceremony, Mr. Yasser Al-Tayeb gave a speech in which he welcomed the outstanding students and their families and commended them for their excellence, wishing them a bright future and lasting success in their studies and working lives.

Egypt: National Bank of Kuwait - Egypt participates as a platinum sponsor in the Arab Banking Conference 2022

The National Bank of Kuwait - Egypt participated as a platinum sponsor in the Arab Banking Conference 2022, which was organized by the Union of Arab Banks and the Union of Egyptian Banks on May 18-19 at the JW Marriott Hotel in Cairo, under the title “The Repercussions of the International Crisis and Its Impact on the Economic Situation in the Arab Region.”

The conference was under the auspices of Mr. Tarek Amer - Governor of the Central Bank of Egypt. He preferred to open the conference sessions, accompanied by many statesmen, banking leaders, public figures, and the media. Mr. Isam Al-Sager - Vice-Chairman and Group Chief Executive Officer, NBK, and Mr. Yasser Al-Tayeb, Vice Chairman, CEO, and Managing Director of the National Bank of Kuwait - Egypt, as well as several heads of sectors in the Bank, which attended the conference as well.

And after the conference sessions, Mr. Karim Kamal - General Manager and Head of the Supporting Functions and Sustainability Sector at the Bank, and on behalf of Mr. Yasser Al-Tayeb, received the commemorative shield presented by the Union of Arab Banks to our Bank in appreciation of his participation in sponsoring the activities of this conference.

Egypt: NBK - Egypt Signs a New Cooperation Protocol with Magdi Yacoub Heart Foundation

As part of its CSR and its commitment to expand its charitable contributions and projects in the Egyptian society year after another, National Bank of Kuwait (NBK)-Egypt has signed a new cooperation protocol for the second time with Magdi Yacoub Heart Foundation under which the Bank provides financial support for the project of building Magdi Yacoub International Heart Center, which will be located in 6th of October City.

On this occasion, Mr. Yasser El-Tayeb NBK - Egypt Vice Chairman, Managing Director & CEO said: “NBK’s provision of this new support to Magdi Yacoub Foundation comes within its CSR and its commitment to play a consistent role in serving the society by making donations and contributions to many non-profit organizations, which aim to develop and society and people at all levels, acting as the executive arm of the Bank’s development efforts. Magdi Yacoub Heart Foundation is a unique medical edifice that follows the latest methods and technologies in the field of heart diseases and research and provides treatment to all groups of people free of charge. It is a true example of trustworthy organizations that we are assured to cooperate with in order to achieve this noble goal in healthcare area, which is one of the key priorities for us and for the whole NBK Group in line with its CSR.

El-Tayeb added: “CSR is one of the key pillars of NBK - Egypt to achieve sustainable development, which aims to contribute effectively to the development of local communities. It aims to reinforce the Egyptian government’s strides in developing the following pivots:

- Provision of healthcare    - Economic development
- Urban development for the neediest areas  - Provision of educational opportunities

On his part, Mr. Karim Kamal - Head of Supporting Functions and Sustainability at NBK-Egypt sated: “NBK - Egypt has a rich record of leading humanitarian and social initiatives, as it seeks to provide various sorts of support to the segments that need care from the members of society, with the aim of promoting the culture of community service and social responsibility awareness, an approach that is consistently followed and promoted by the Bank. This new protocol signed with the Magdi Yacoub Heart Foundation is a continuation of the close cooperation and successful partnership between the Bank and the Foundation, which began in 2018.”

Meanwhile, Mrs. Rania Afifi – Head of CSR at NBK-Egypt mentioned: “NBK-Egypt places the development of the neediest communities and individuals as a top priority in its CSR allocations. Providing healthcare to patients is of the noblest goals, as healthy individuals are the cornerstone of society by being able productive and active contributors to national development and progress

On the other side, Mrs. Dina El-Gazzar, VP for Development and Fundraising at Magdi Yacoub Heart Foundation expressed her appreciation of NBK-Egypt’s ongoing support of the efforts to establish the Foundation’s new center in Cairo, to increase the number of beneficiaries and spread knowledge for doctors and nursing staff in Egypt and the region. She hoped that cooperation with the Bank continues during the coming period until the new center is completed and starts providing its services to citizens as soon as possible.

It is worth mentioning that NBK-Egypt now has a network of 54 branches strategically located across the different governorates and cities in Egypt including Cairo, Giza, Alexandria, Delta, Sinai, Red Sea, Port Said, Upper Egypt, and the industrial areas in the 6th of October and the 10th of Ramadan Cities. The bank is also privileged to be among the banks providing Islamic products, in conjunction to conventional products, through its dedicated Islamic banking branches. Additionally, it has a large ATM network across the key locations of the country to service its customers around the clock.

Egypt: NBK-Egypt Inaugurates Its 54th Branch at Katameya - 5A by the Waterway

In continuation of its success and serving its expansion plans to increase its customer base and number of branches, as well as the continuous development and modernization of its branch network, National Bank of Kuwait (NBK) – Egypt has inaugurated its Katameya Branch - 5A by the Waterway. The opening ceremony was attended by Mr. Amr El Alfy, Head of Business Group at NBK – Egypt, Mrs. Salma Abou Hussein, Head of Consumer Banking at NBK-Egypt, Mr. Ahmed Youssef - Head of Distribution Channels and Branch Network, Mrs. Dena Al-Nemr – Co-Head Branches, and a number of members of the bank’s Executive Management, as well as the distinguished presence of Mr. Ashraf Shabib - Group CEO at Waterway Developments.

The new branch is strategically located at a world-class business complex in New Cairo; offering a great opportunity to attract many customers from different segments.

Speaking on this occasion, Mr. Amr El Alfy, Head of Business Group at NBK – Egypt said: “NBK-Egypt adopts a clear strategy to increase the number of its branches and its geographical footprint, whether in various key locations in Greater Cairo or other governorates. This includes new governorates where the bank had no previous presence, such as the recently opened Port Said Branch, in order to serve the largest number of the bank’s existing and prospective customers. Simultaneously, this serves the directions of the government and the Central Bank of Egypt towards financial inclusion and achieving Egypt’s Vision 2030, which the bank regards as a top priority.

“NBK-Egypt’s horizontal expansion by increasing the number of its branches has become a necessity to reach the largest number of its customers and serve them wherever they are, in a way that increases the bank’s competitiveness in the Egyptian banking market and supports its plans to increase customer base and introduce its top-notch banking services to them,” he added.

On her side, Mrs. Salma Abou Hussein, Head of Consumer Banking at NBK-Egypt said: “The new branch was designed, implemented and equipped according to state of the art technology to provide customers with utmost convenience and quickest service. It is also created to serve Privilege Banking Customers, with a dedicated waiting area to provide them with superior banking services allowing them to make their transactions in the easiest and quickest way possible, through a professional team of highly qualified bankers. The branch also features an advanced ATM/CDM machine providing cash withdrawal, deposit and currency exchange services.”

“The new branch provides its services to customers all over the week from Saturday to Thursday from 9:30 a.m. to 5:30 p.m., and on Friday from 2 pm to 7 p.m., and it is the 8th branch of the bank that operates all week long and during most official holidays,” she added.

Abou Hussein noted that by opening this new branch, NBK-Egypt now has a network of 54 branches that are strategically located across the different governorates and cities in Egypt including Cairo, Giza, Alexandria, Delta, Sinai, Red Sea, Upper Egypt, and the industrial areas in the 6th of October and the 10th of Ramadan Cities, in addition to the recently opened Port Said Branch. The bank is also privileged to be among the banks providing Islamic products, in conjunction to conventional products, through its dedicated Islamic banking branches. Additionally, it has a large ATM network across key locations of the country to service its customers around the clock.

Egypt: NBk's newest branch "Port Said Branch" officially opened

In continuation of the Bank's successful path and in support of our expansion plans to increase the customer base and the number of branches, as well as the continuous development and modernization of our branch network, we are pleased to announce that on Monday, the 7th of February 2022, the Bank's newest branch "Port Said Branch" was officially opened.
It is worth mentioning that "Port Said" branch is the First branch to be opened in the canal cities region and was inaugurated by Mr. Amr ElAlfy – Head of Business Division, Mrs. Salma Abu Hussein – Head of the Consumer Banking Sector, Mr. Ahmed Youssef - Head of Distribution Channels and Branches Network, and several Executive Managers from the Bank.

The new branch is distinguished by its strategic location in downtown Port Said, an excellent opportunity to attract many customers from different segments, bringing our branch network count to 53 branches.

It is worth mentioning that the new branch has been designed and implemented according to the latest designs and modern technologies to provide customers with complete comfort and speed of service performance. The branch includes a Privilege lounge for our Privilege Banking segment clients and a business center lounge to deal with our corporate clients. The branch is also equipped with two cash & deposit ATMs, one of them also equipped with currency exchange function.

Egypt: NBK Egypt honored best-performing employees in a Golden Draw Event offering Citroën C5 award.

NBK Egypt organized a ceremony to honor the best performing colleagues in Q4, 2021 from the Consumer Banking Division, during the presence of Mr. Yasser ElTayeb, Vice Chairman, CEO and Managing Director, Mr. Amr Alalfy, Head of Business and Ms. Salma Abu Hussein, Head of Consumer Banking with the presence of Division Heads and Executive Management.

To honor the best performing colleagues, a Citroën C5 was awarded during the ceremony, in addition to gold coins and trophies.

The Bank's management sincerely congratulates the winning colleagues for their hard work & delegation.