May 15th 2017
In recognition of the Bank’s excellent turnaround since the acquisition
Al Ahli Bank of Kuwait - Egypt (ABK–Egypt) was presented with the ‘Best New Brand in Egypt’ award by the Banker Middle East, in recognition of the Bank’s exceptional turnaround following the acquisition. The award was received by Mr. Ali Marafi, ABK- Egypt Chairman and Mr. Khaled El Salawy, ABK - Egypt CEO & Managing Director, during a ceremony held on 11 May, 2017 at the Emirates Tower Hotel, Dubai.
The ‘Best New Brand in Egypt’ award was earned in recognition of the Bank’s exceptional turnaround following the acquisition. The rebranding process was successfully completed for ABK-Egypt, strategies were aligned with the Group and several new services were introduced. Moreover; ABK - Egypt recorded substantial performance in 2016 with growth in total assets by 62%, in loans by 82% and in customer deposits by 50%; a true testament to the new successful management approach.
Commenting on this great achievement, Mr. Ali Marafi said: “We stand proud today of this great achievement and grateful for the recognition received by Banker Middle East, after less than 2 years of operations as ABK Egypt. ABK is a solid financial institution and since it has expanded its presence in the Egyptian market, it has set new horizons for what it aspires to achieve and has created a more powerful force to drive its vision to reimagining a simpler bank and its mission to consistently provide experiences that simplify and enrich people’s lives.”
Mr. Khaled El Salawy also emphasized on the great value of this award and reinforced the Bank’s commitment to rolling out the Simpler Banking strategy across ABK Egypt operations while maintaining the Egyptian heritage and culture across its branches and offering the services that cater to its customers’ needs. He said: “The success of our brand in Egypt is due to the seamless transition phase that took place during the acquisition and set up of ABK operations across all 39 branches. We are proud of what we have achieved to date and we look forward to the next phase of our journey”.
ABK - Egypt was established when ABK acquired Piraeus Bank Egypt in 2015, as part of the Group’s plans to expand its regional presence, reinforce the Bank’s competitive position and provide additional value to clients and stakeholders.
For more information about ABK – Egypt, please contact our 24/7 call center 19322.