Bank Audi to Double Its Presence in Egypt
“The Egyptian economy requires all sectors to be moved. Infrastructure, power and energy. Most of the deals have now been launched in the energy sector in particular.”
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“The Egyptian economy requires all sectors to be moved. Infrastructure, power and energy. Most of the deals have now been launched in the energy sector in particular.”
“We had been reforming the banking sector from 2003 to 2010. These reforms saved the banking sector in Egypt during the dry years. It was very difficult to manage our reserves in the past few years. The performance of the Egyptian banking sector, its survival and its role as the backbone of the economy in those tough years, has now become a case study in the best universities in the world. “
“Corporate banking is considered the fastest-growing portfolios in the whole country. The portfolio was acquired in 2008 by Banque Swiss, so we have a very clean portfolio since we’ve started.”
“We are one of the leading banks in the syndication market. We have a number of milestone transactions in hydrocarbons, energy, power generation, fertilizers etc. We are the leading bank in the SMEs proposition as well.”
Egypt’s financial services sector is one of the oldest and best established in the Middle East. Egypt’s top financial institutions are also one of the best developed in the region. The key representatives of the top financial institutions in Egypt include Egypt’s financial authority EFSA (Egyptian Financial Supervisory Authority) and the EGX.
“The Bank of Alexandria is the third largest bank in the private sector,” says Roberto Vercelli, Managing Director & CEO of AlexBank.
“The banking sector has grown over the last 3 years both in terms of loans and deposits because we have a lot of liquidity in the country,” explains Roberto Vercelli, Managing Director & CEO of AlexBank.
AIB is considered the private bank for high net worth individuals inside Egypt. This business model will change very soon, once we get local currency operations in place.
We revisited our strategic direction last year, in using our platform and experience in Egypt to expand to other countries; our original vision was to be the preferred partner for transaction processing.
“We are the safe haven for large depositors. AIB is considered the private bank for high net worth individuals inside Egypt,” says Amr Atallah, GM for Branches and Banking Services at AIB.