Alex Bank To Raise Retail Finances By EGP 250 Mln In 2013

Alex Bank Intesa Sanpaolo targets to increase retail finances by EGP 250 million by the end of 2013, Bassel Rahmy, head of the retail banking group, said.

The bank’s retail finances rose EGP 100 million in the first three months of 2013 to reach EGP 9.8 billion at the end of last March, compared to EGP 9.7 billion at the end of 2012, he added.

The bank targets to contribute EGP 100 million to the finances offered to the third phase of the White Taxi project which aims at encouraging taxi owners to replace their aging cabs with new automobiles.

It is worth mentioning that Alex Bank launched at the end of the first half of 2012 visa inspire, the global debit card, in collaboration with Visa for the first time in the Egyptian market, offering its customers the ability to use their ‘Visa Inspire’ cards to make purchases and withdraw funds at Intesa Sanpaolo group ATMs across 12 countries including Egypt.