ABK-Egypt wins fastest growing bank in Egypt award
Al Ahli Bank of Kuwait – Egypt (ABK-Egypt) has won the Fastest Growing Bank in Egypt for 2023 Award from International Business Magazine.
The accolade celebrates ABK-Egypt’s significant achievements and growth trajectory since the Group’s acquisition of Piraeus Bank Egypt in 2015.
“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.” Ali Marafi, chairman of ABK-Egypt, said.
“This recognition motivates us to continue to drive sustainable growth and deliver superior banking solutions to individuals and businesses across Egypt.”
Khaled El Salawy, CEO and managing director of ABK-Egypt, expressed his gratitude for winning this award, saying it is a testament to the bank’s commitment to achieving sustainable growth.
“It (the award) 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.” El Salawy added.
He further said that ABK-Egypt’s top priorities over the coming period are to focus on its infrastructure, investing in digital transformation, and developing the capabilities of employees.
“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.”
Over the course of seven years, ABK-Egypt has steadily increased its net profit to reach 1.7 billion Egyptian pounds 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.
The bank has also boosted its branch network reach, ventured into new business lines, and conducted extensive brand-building campaigns to raise consumer awareness. Its 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.
Corporate Social Responsibility has been an integral part of ABK-Egypt’s 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.”
