Reports show that the Egyptian banking system is quite stable thanks to the fact that the country’s economy is improving. With the country witnessing a high GDP growth and consumer spending rising, the banking sector is expected to remain profitable. Today, customers in Egypt have a long list of banks that they can choose from. Many local banks in Egypt offer the same features such as ATMs, mortgages, credit cards, and investment products. However, these banks may lack products and services which are offered by big banks. You must choose a bank that appeals to your lifestyle and needs. In this article, we are going to look at the biggest list of banks in Egypt.
1. HSBC Bank Egypt
Phone: +20 2 25298000
First on this list of banks in Egypt is HSBC Bank. This is one of the biggest banks in Egypt that was incorporated back in 1982 as Hong Kong Egyptian Bank. In 1994, the bank changed its name to the Egyptian British Bank under HSBC Holdings plc. It was in 2001 that the bank rebranded to HSBC Bank Egypt. The bank which has about 1800 employees and 70 branches in the country is considered to be the biggest multinational bank in Egypt. HSBC Bank Egypt offers a wide array of financial and banking services that meets the needs of clients that range from local companies to large corporations. Services offered by HSBC Bank Egypt include personal financial services, investment banking, treasury capital markets, and commercial banking.
2. Commercial International Bank
Phone: +20 2 37472000
Second on this list of banks in Egypt is Commercial International Bank which was established back in 1975 as a joint venture between Chase Manhattan Bank and the National Bank of Egypt. Previously known as Chase National Bank of Egypt, the bank changed its name to Commercial International Bank. The bank which is headquartered in Giza, Egypt has 174 branches and employs about 6000 staff. It offers corporate, retail and investment banking services in Egypt. According to reports in 2016, the bank’s assets amassed to a total of $14.96 billion while the net profit stood at $337.72.
3. National Bank of Egypt
Phone: +20 2 25945000
The National Bank of Egypt is the oldest commercial bank in the country having been established in 1898. The bank became a central bank in the 1950s but relinquished the role in the 1960s. Today, the National Bank of Egypt offers corporate, retail, and investment banking services. It is headquartered in Cairo, Egypt and manages 413 branches as well as 3,823 ATMs in the country. In 2016, the National Bank of Egypt had assets totaling $63.20 billion and a net profit of $595 million.
4. Banque Misr
Phone: +20 2 26352549
Banque Misr which was established in 1920 is the second-largest bank in Egypt with a market share of 16.1%. The bank offers retail, investment, corporate and Islamic banking services in the country. Also, the bank manages 511 branches across Egypt and has a staff of about 14000 employees. The company won an award for “Best provider of money market funds in the Middle East” between 2012, 2013, and 2014. Banque Misr has 162 projects in different projects that include 28 financial projects, 20 Agri and food projects, 15 service projects, and 24 industrial projects, 15 Bahagat Group projects, and 9 IT and communication projects.
5. Banque du Caire
Phone: +20 2 38358950
Banque du Caire is the third-largest state-owned bank in Egypt. This bank has a 20 percent shareholding in Air Cairo which owns 21.8 percent of Banque du Caire. Banque du Caire offers a wide array of banking services to its customers via a network of branches as well as banking units across Egypt. This bank has the following features that include phone banking, BDC online banking, mobile banking app, and branch/ATM locator. Services offered by Banque du Caire will give you a personal loan and corporate banking like cash and liquidity management, treasury & capital market.
Phone: +20 2 23904087
The sixth bank on this list of banks in Egypt is AlexBank which was founded back in 1957. In 2006, the bank was privatized by selling 80 percent of its shares to Intesa Sanpaolo. Today, AlexBank is considered to be Egypt’s leading private sector banks with a total of 176 branches and has more than 4500 employees. With approximately 1.5 million customers in Egypt, AlexBank contributes big time to Egypt’s economy. This bank provides products and services such as SMBs which include Cards, Internet & Mobile Banking, Electronic Wallets, and ATMs.
7. Faisal Islamic Bank of Egypt
Phone: +20 2 35356001
Faisal Islamic Bank of Egypt refers to a “shariah-compliant” financial institution that is based in Cairo, Egypt. The bank which was incorporated back in 1977 provides different types of banking products in Egypt such as current and investment accounts, mutual funds, joint accounts, and savings certificates. It is the first Egyptian Islamic and Commercial Bank with a total asset which is more than $6.5 billion as of the year 2013.
8. Arab Banking Corporation
Phone: +20 2 27362684
Arab Banking Corporation which is also known as Bank ABC is an international commercial bank that is based in Cairo, Egypt. Previously called Egypt Arab African Bank, Bank ABC operates 28 branches across the country and employs about 500 staff. The bank provides a wide array of banking products which include internet cards, credit cards, overdrafts, personal loans, current accounts, time deposits, and savings certificates. Also, Arab Banking Corporation provides financial services to institutional and corporate clients that include syndications, trade finance solutions, project finance as well as treasury products.
9. Bank Audi
Phone: +20 2 35343300
Finally on this list of banks in Egypt is Bank Audi. It was in 2006 that Bank Audi acquired a small bank known as Cairo Far East Bank which had only 3 branches. To date, the bank has 46 branches across the country. Bank Audi offers a wide array of services and products that matches your banking needs. This includes current account, savings account, personal loan, car loan, debit cards, credit cards, Bancassurance. The bank also offers easy to use and secure banking services which include Fawry, Call Center, and SMS Service.