KUWAIT: Al-Ahli Bank of Kuwait – Egypt (ABK-Egypt), a subsidiary of Al-Ahli Bank of Kuwait, has been recognized as the Fastest Growing Bank in Egypt for 2023 by International Business Magazine. This accolade celebrates ABK-Egypt’s noteworthy achievements and growth trajectory since the Group’s acquisition of Piraeus Bank Egypt in 2015. Commenting on the accomplishment, Ali Marafi, Chairman of ABK-Egypt, said, “Winning the Fastest Growing Bank - Egypt 2023 award is a tremendous achievement for ABK-Egypt which reflects our strategic vision, unwavering pursuit of excellence, and ability to adapt to customers’ evolving needs.
This recognition motivates us to continue to drive sustainable growth and deliver superior banking solutions to individuals and businesses across Egypt.” On his part, Khaled El Salawy, CEO and Managing Director of ABK-Egypt, expressed his gratitude for winning this award, saying, “Being granted the ‘Fastest Growing Bank’ award is testament to our commitment to achieving sustainable growth. It demonstrates our constant dedication to implementing our ambitious, flexible, and innovative strategies.
The Bank’s success in establishing a thorough understanding of the economic landscape in its various sectors has enabled us to swiftly meet the needs of both individual and corporate customers alike. ABK-Egypt’s journey over the past years has been characterized by resilience and agility in a dynamic economic landscape. Through strategic investments in customer centricity, digitization, and human capital development, the Bank has achieved a significant increase in its balance sheet, positioning itself as a leading player in the Egyptian banking sector.
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. Furthermore, ABK-Egypt’s financial performance speaks volumes about its impressive growth. Despite starting with a loss of EGP 103 million in 2015, the Bank has steadily increased its net profit, reaching EGP 1.7 billion in the first half of 2023.
Furthermore, ABK-Egypt has expanded its customer base across corporate and retail banking segments, cementing its position as a trusted banking partner in the market. Undergoing a comprehensive digital transformation, ABK-Egypt has optimized its branch network, ventured into new business lines, and conducted extensive brand-building campaigns to raise consumer awareness. The bank’s 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.
Beyond its financial achievements, ABK-Egypt remains dedicated to being a responsible corporate citizen. 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. ABK-Egypt reaffirms its relentless dedication to delivering a unique banking experience by prioritizing customer satisfaction and exceeding expectations at every interaction. By providing innovative solutions, tailored banking products, and personalized service, the Bank ensures to remain customers’ preferred banking partner.