May 8th 2016
ABK’s acquisition of Piraeus Bank Egypt recognized internationally
Al Ahli Bank of Kuwait’s (ABK) was recently awarded the prestigious regional ‘Deal of the Year’ by The Banker, an FT affiliate, for the strategic acquisition of Piraeus Bank Egypt (PBE)
ABK completed its acquisition of PBE in November 2015; a transformational milestone in the history of the Bank and a major investment in its growth, which expanded ABK’s presence to a core market in the region, with 39 established branches in Egypt.
Commenting on this prestigious award, Mr. Michel Accad, ABK’s Chief Executive Officer, said: “It is a great honor to receive the ‘Deal of the Year’ award for the acquisition of Piraeus Bank Egypt. We are proud of this strategic step, which is helping transform ABK into a regional player, and we are grateful that this transaction has been recognized by such a distinguished financial publication”.
“I would like to thank the judging panel for this outstanding recognition. Very special thanks go to our colleagues and associates at both Banks for their diligence and hard work in making this acquisition a success”.
ABK’s expansion to Egypt is one major step forward towards diversifying the Banks business profile and extending its regional connectivity. The new identity will be rolled-out over the entire 39 branch network in the first half of 2016.
For more information on Al Ahli Bank of Kuwait please contact ‘Ahlan Ahli’ at 1899899.