login
Arabi Online
SMS Express
Arabi Connect
 
login
Arabi Online
SMS Express
Arabi Connect
 

What are you looking for?
How can we help?

Most Popular
Searches

Welcome to
ArabBank
Egypt

 
 
Arab Bank Egypt has recently concluded the first edition of its fintech bootcamp for Egyptian startups. The launch of this bootcamp comes in line with Arab Bank’s strategy to invest in entrepreneurs’ innovative technologies and enhance their skills by providing them with the necessary resources to keep pace with the latest trends in the financial industry, especially in light of the current fintech revolution.


Through this initiative, Arab Bank offered an ideal opportunity for promising fintech entrepreneurs in Egypt to present their emerging solutions to “AB Accelerator”, Arab Bank’s innovation hub, for a chance of integrating these solutions within the bank. It is worth noting that “AB Accelerator” is the fintech-focused corporate accelerator of Arab Bank, which invests globally, with a focus on EMEA, in early-stage technology startups, whose business model provides innovation that can disrupt or expand the financial services industry. 

The shortlisted startups enrolled in an intensive one-week bootcamp that took place between the 21st and the 25th of November, 2021, through which they were able to develop their ideas and refine their skills by testing their proposed solutions and validating their relevance and feasibility in the market. The bootcamp workshops were lead by entrepreneurs, investors, experts from the fintech industry as well as Arab Bank Egypt, ensuring delivering the relevant experience and knowledge to the participants.  

The bootcamp concluded with a demo day where startups pitched their solutions to a panel of judges comprised of Arab Bank senior management in addition to independent investors. Three winners were selected and received cash rewards to continue developing their ideas and building their solutions. “Fawateerak” received the first-place prize of EGP 100,000 while “F-Mail” received the second-place prize of EGP 75,000 and “Vlens” came in third with a EGP 50,000 prize. 

Commenting on this initiative, Habiba Helmy, Innovation Lead at Arab Bank – Egypt, said: “The bootcamp focused on connecting entrepreneurs with relevant Arab Bank stakeholders to explore collaboration opportunities in addition to giving them hands on support through holding knowledge exchange sessions with mature entrepreneurs that have gone through similar journeys in their early days, particularly relating to the challenges and pains that less mature startups are experiencing.”

Helmy added: “We are very pleased with the success and outcome of the bootcamp and the enthusiasm demonstrated by the participants throughout. This reflects their commitment to developing their skills and growing their products through utilizing the resources provided to them at the bootcamp. These are the kind of prospect startups that we aspire to invest in and collaborate with at Arab Bank.” 

It is worth mentioning that Arab Bank’s presence in Egypt started in 1944. Currently, the bank owns 44 branches located in main cities and governorates across Egypt. Arab Bank has one of the largest global Arab banking networks with over 600 branches spanning five continents. The bank has also recently received the “Best Consumer Digital Bank in Egypt 2021” award by New York-based Global Finance Magazine.   
Dec 2, 2021
Arab Bank Concludes its First Bootcamp for Fintech Entrepreneurs in Egypt

Arab Bank Group reported net income after tax of $271.7 million as compared to $215.2 million for the same period last year, recording a growth of 26%. Arab Bank consolidated the financial statements of Oman Arab Bank under its Group accounts increasing total assets by $8.4 billion to reach $63.7 billion compared to $52.5 billion for the same period last year.

Customer deposits grew by 24% to reach $46.6 billion, while loans grew by 28%, to reach $34.1 billion. The consolidation of Oman Arab Bank has materially increased customer deposits and loans by $7 billion and $7.5 billion, respectively.

Mr. Sabih Masri, Chairman of the Board of Directors remarked that the solid results demonstrate the bank’s strategic directive to maintain sustainable growth despite the challenging environment and highlighted that the bank continued focus on its digital transformation strategy.

Mr. Nemeh Sabbagh, Chief Executive Officer, commented that the Bank robust performance confirms its effectiveness in operating in a challenging economic environment with net operating income increasing by 6% to reach $856.9 Million. He added that the Group enjoys high liquidity and a strong capital base with a loan to deposit ratio of 73.1%, equity of $10.4 billion, and a capital adequacy ratio of 16.8%. The Group continues to hold credit provisions against non-performing loans in excess of 100%.

Mr. Sabbagh also noted that the bank has launched Reflect, the first Neobank in Jordan, which provides a branchless experience to millennials and facilitates their daily lifestyle activities from one banking app.

Mr. Masri highlighted Arab Bank's capacity to successfully overcome challenges and achieve strong results and stressed Arab Bank's commitment to its customers and shareholders.

Oct 31, 2021
Arab Bank Group profits grow by 26% for nine months 2021
Coinciding with the breast cancer awareness month which falls on October of each year, Arab Bank – Egypt held a breast cancer awareness day for its female employees including a lecture on breast cancer. This initiative is part of Arab Bank’s constant efforts to care for its employees’ health and comes in support of the national efforts to fight cancer.

The initiative, held at the bank’s head office in New Cairo, included an awareness lecture by Dr. Mohamed Shalaan, Professor of Surgical Oncology at the National Cancer Institute and Chairman of the Breast Cancer Foundation of Egypt (BCFE), which focused on the importance of breast cancer awareness, statistics on breast cancer in Egypt and causes, in addition to risk factors that can be controlled to prevent cancer and the importance of early detection.

Commenting on this initiative, Ms. Kamila Batarseh, Head of Human Resources at Arab Bank – Egypt, said: “This initiative is part of Arab Bank’s constant commitment towards educating and encouraging its employees to adopt a healthy lifestyle in order to maintain their health and prevent illness.” She added: “Early detection of breast cancer is key to reducing the risks of the disease and in turn increasing the chances of recovery during early stages.”
Oct 21, 2021
Arab Bank Holds Breast Cancer Awareness Day for its Female Employees

As part of its constant efforts to enhance its services and banking programs, and in line with its leading role in supporting the Central Bank of Egypt’s initiatives for financial inclusion, Arab Bank has recently revamped its children’s savings program and relaunched it under the name “Arabi Junior”, offering an array of new benefits for children and teens up to the age of 16 years.

The new “Arabi Junior” program offers a host of banking and non-banking benefits, specially designed to encourage parents to save for their children’s future and to create a fun and rewarding savings experience, fostering a financial culture among kids at an early age. The benefits of the new program entail: digital savings account “e-Tawfeer” via “Arabi Mobile” app which offers loyalty points on the account’s balance as well as many other benefits and rewards, savings account with various options of deposits at preferential interest rates, Visa Debit Card with a special design at no monthly fees, and the contactless payment bracelet “BandPay” exempted from issuance fees and available in different colors and sizes that are suitable for children. “BandPay” allows payment from the Visa debit card by waving the bracelet over the POS device at merchants that accept Contactless payments without using cards. This is in addition to the “Instant Saver” feature, which allows parents to save for their children upon every purchase they make using their debit or credit cards, through deducting a pre-set percentage or a rounded-up amount from each transaction value to be automatically transferred to the child’s “Arabi Junior” account. The “Arabi Junior” program also offers a special gift upon account opening, discounts and exclusive offers at a list of retailers, toy stores, entertainment centers and many more.

Commenting on the new program’s launch, Mohamed Elhalawane, Head of Consumer Banking at Arab Bank – Egypt, said: “We continuously seek to enhance our programs to provide our customers with a unique banking experience that meets their current and future banking needs.” He added: “The new Arabi Junior program provides an ideal savings tool for parents and their children – up to 16 years old – as it offers a host of unique banking privileges designed specially to support parents in ensuring their children’s future while fostering a financial culture among them.”

It is worth noting that the “Arabi Junior” program is part of Arab Bank’s comprehensive banking programs offering, supported by fully integrated digital channels designed to meet the evolving banking needs of the whole family throughout its life cycle. The bank’s array of programs respond to the needs of children, youth, employees, and professionals, in addition to providing banking and wealth management programs for middle to high-net-worth groups, as well as bancassurance services. 

Sep 12, 2021
Arab Bank Launches the Savings Program for Children and Teens with its New Features
Arab Bank has recently launched its FinTech-focused corporate accelerator program “AB Accelerator” in Egypt, following its successful launch in Jordan back in 2018.  
The launch of this program in Egypt comes as part of the bank’s strategic efforts to foster and support innovation in the FinTech sector towards offering responsive and agile banking solutions in line with the evolving needs and expectations of clients across different segments.

The “AB Accelerator” program aims to accelerate the adoption of emerging technologies and solutions within Arab Bank, and support entrepreneurs with the opportunity to scale their market ready FinTech startups across the MENA region. Driven by this objective, the “AB Accelerator” program works to integrate into Egypt’s startup scene through investing in early-stage startups specialized in FinTech as well as other related technology verticals, such as cybersecurity and artificial intelligence (AI), with a focus on startups that demonstrate strategic alignment with Arab Bank. 

Commenting on the launch of the program in Egypt, Hala Zahran, Lead of AB Accelerator commented: “AB Accelerator is unique in a way that applies a venture client as well as a venture capital model. “AB Accelerator” provides early-stage startups with a banking and commercial collaboration that not only helps them gain credibility and validate their product, but also allows them to instantaneously tap into multiple geographies. As such, “AB Accelerator” program encompasses the essence of what a strategic investor is.” Zahran also added: “Over the past two years, we have invested in a global portfolio of startups from the US, Europe and in the MENA region, including startups like Seclytics (Cybersecurity), Tabby (Buy Now Pay Later) Hala Insurance (Digital Insurance).”

From her side Habiba Helmy, Innovation Lead at Arab Bank – Egypt remarked: “We are very excited about this new opportunity to connect with promising FinTech startups in Egypt, which has one of the region’s most thriving ecosystems for innovation.” She added: “Egypt is home for talented and passionate entrepreneurs who we are eager to collaborate with and, eventually, help in expanding their footprint both locally and regionally.” 

Commenting on the benefits that startups receive upon joining AB Accelerator program, Helmy pointed: “Not only will startups be able to receive funding of up to $500,000, but they will also be entitled to a host of unique benefits as part of their collaboration with Arab Bank. These benefits include: creating a customized Proof of Concept to test solutions which could potentially lead to a pilot agreement with the bank, as well as instantly accessing customers and markets across Arab Bank’s regional and global network.”

It is worth noting that Egyptian entrepreneurs who wish to join Arab Bank’s “AB Accelerator” portfolio of companies may apply online through: www.abaccelerator.co/apply-now or send an email to: hello@abaccelerator.co which were launched specifically to receive inquiries and application forms.

Arab Bank is one of the leading financial institutions in the region to deploy state-of-the-art technological solutions for financial and banking services. The bank’s strategic approach on this front dovetails with its constant endeavor to support entrepreneurs and startups that contribute to youth capacity building, innovation and employment, as critical elements towards achieving sustainable economic development.
It is also worth noting that Arab Bank’s presence in Egypt started in 1944. Currently the bank has 44 branches located in main cities and governorates across Egypt. Arab Bank has one of the largest global Arab banking networks with over 600 branches spanning five continents. 
 
Aug 22, 2021
Arab Bank Launches its FinTech Accelerating Program in Egypt
 
New York-based Global Finance magazine recently awarded Arab Bank the “Best Bank in the Middle East 2021” award, for the sixth year in a row. 
This global recognition came as part of Global Finance’s 28th Annual Best Bank Awards and was made by the editors of Global Finance after extensive consultations with corporate financial executives, bankers and banking consultants, and analysts throughout the world. In selecting top banks, Global Finance considered factors that ranged from the quantitative objective to the informed subjective.
The objective criteria considered included: growth in assets, profitability, geographic reach, strategic relationships, new business development and innovation in products. Subjective criteria included the opinions of equity analysts, credit rating analysts, banking consultants and others involved in the industry.
Global Finance Awards cover more than 150 countries and territories across Africa, Asia-Pacific, the Caribbean, Central America, Central and Eastern Europe, Latin America, the Middle East, North America and Western Europe.
 
Commenting on this achievement, Mr. Nemeh Sabbagh, Arab Bank’s Chief Executive Officer said: “Receiving this global recognition for the sixth consecutive year is a testament to the strength of the bank’s business model and its ability to deliver strong performance across its regional network despite the exceptional circumstances and challenges posed by the COVID-19 global pandemic”. Sabbagh added: "The bank continues to provide comprehensive banking solutions to its customers across various sectors locally and regionally, in addition to its focus on keeping pace with the latest technological developments in the banking industry, in line with its comprehensive strategy and ambitious future vision."
It is worth mentioning that Arab Bank, headquartered in Amman - Jordan, was established in 1930 and has one of the largest global Arab banking networks with over 600 branches spanning five continents. Arab Bank’s extensive network covers key financial markets and centers such as London, Singapore, Shanghai, Geneva, Paris, Frankfurt, Sydney, Dubai and Bahrain.
 
Aug 15, 2021
For the Sixth Consecutive Year Arab Bank “Best Bank in the Middle East 2021”

Arab Bank Group reported net income after tax of $182.4 million as compared to $152.1 million for the same period last year, recording a growth of 20%. During the first quarter of 2021, Arab Bank consolidated the financial statements of Oman Arab Bank under its Group accounts increasing total assets by $8.2 billion to reach $63 billion compared to $51.6 billion for the same period last year. Oman Arab Bank has also recently finalized the acquisition of Al Izz Islamic Bank, a full-fledged Islamic bank, strengthening its presence in the Sultanate of Oman.


Customer deposits grew by 28% to reach $46 billion, while loans grew by 27%, to reach $33.8 billion. The consolidation of Oman Arab Bank has materially increased customer deposits and loans by $7 billion and $7.2 billion, respectively.


Mr. Sabih Masri, Chairman of the Board of Directors remarked that the solid results demonstrate the strength of the Bank’s diversified business model and the Bank’s resilient performance in this challenging economic environment.


Mr. Nemeh Sabbagh, Chief Executive Officer, commented that despite the negative economic consequences of the pandemic, the Bank's robust performance confirms its effectiveness in operating in a challenging economic environment as net operating income increased by 6% to reach $579.8 million. He added that the Group enjoys high liquidity and a strong capital base with a loan to deposit ratio of 73.5%, equity of $10.3 billion, and a capital adequacy ratio of 16.7%. Mr. Sabbagh also noted that the Group continues to hold credit provisions against non-performing loans in excess of 100%.


Mr. Masri expressed his confidence in the Group’s ability to maintain its solid financial indicators. He also concluded by remarking that the Group will remain committed to sustainable community development, and to fostering the interests of its customers, shareholders and communities.


Arab Bank has recently issued its eleventh annual sustainability report, which provides a summary of the Bank's performance and achievements in the social, environmental and economic fields for the year 2020.


During the Board meeting which took place on 29th July 2021, the Board approved the appointment of Mr. Mahmoud Malhas as board member and he was elected as Deputy Chairman of the Board.


Mr. Nemeh Sabbagh, the Chief Executive Officer of Arab Bank also informed the Board during the meeting of his desire to retire at the end of the year. Mr. Sabbagh has had a distinguished 47 year international career in banking and finance and has been the CEO of Arab Bank for the past 12 years.


Mr. Sabbagh recommended to the Board the appointment of Ms. Randa Sadik as his successor. Ms. Sadik has been holding the position of Deputy Chief  Executive Officer since 2010. The recommendation was welcomed by the Board of Directors.


Aug 1, 2021
Arab Bank Group first half 2021 net profits grow by 20%

Arab Bank launched a new bill payment service available through the bank’s online banking service “Arabi Online” and “Arabi Mobile” app, in collaboration with “Fawry”, the leading digital transformation and e-payments platform in Egypt The launch of this new service comes as part of Arab Bank’s strategic efforts to expand its digital offerings and deploy innovative digital solutions in line with its customers’ evolving needs and lifestyle.

The new “Fawry” service offers Arab Bank’s customers the ability to inquire about their bills and pay their due bills instantly within the highest levels of security and ease to a wide range billers and service utilities including telecommunication, tourism and airline tickets, online payments, utilities, insurance, university fees, donations, subscriptions and advertisements.

Commenting on the service launch, Mr. Mohamed Elhalawane, Head of Consumer Banking at Arab Bank – Egypt, stated: “We continuously seek to provide our customers with the latest digital banking services within the highest levels of flexibility and security.” He added: “The new service is yet another value-added addition to the comprehensive banking services that the bank offers through “Arabi Mobile” and “Arabi Online”, providing customers with a simultaneous and seamless bill payment experience.”

It is worth mentioning that Arab Bank provides its customers with a comprehensive range of digital banking solutions, such as the “Arabi Mobile” app, the “Arabi Online” service, and an extensive network of advanced Arab Bank ATMs including drive-thru ATMs. This is in addition to offering customers a range of innovative digital banking service around the clock through its first self-service Branch in Egypt – CityStars Mall and its self-service area at the New Cairo Branch.

Jul 20, 2021
Arab Bank Offers E-Payment Service “Fawry” to its Customers

Arab Bank has recently launched the “Travel Mate” credit card exclusively for its “Elite” program customers in collaboration with Visa, the leading global payments technology corporation.

The new credit card offers a host of integrated banking and non-banking privileges and services that are exclusively in line with “Elite” customers' lifestyle while travelling abroad. This comes as part of the bank’s strategy to continuously deploy the latest banking solutions and services that meet its customers’ evolving needs and expectations.

Arab Bank’s “Travel Mate” credit card offers “Elite” customers a range of special features including, 0% foreign exchange commission on a wide range of currencies, flexible repayment options for minimum monthly payments starting from 5% of the balance, higher cash withdrawal limit, convenient Easy Payment Plan starting from 1.5%, grace period of interest-free credit up to 57 days, complimentary airport lounge access, optional credit shield insurance which covers 100% of the outstanding balance.

Commenting on the card launch, Ahmed Ismail, Country Manager at Arab Bank – Egypt, said: “We continuously seek to provide our customers of all ages with value-added products and services that meet their diverse needs and expectations.” He added: “The “Travel Mate” credit card is yet another valuable addition to our “Elite” program which offers exclusive benefits with greater luxury to its unique customer segment.”

For her part, Ms. Malak Al Baba, Country Manager at Visa - Egypt, said that Visa is delighted to collaborate with Arab Bank on launching the “Travel Mate” credit card from Visa, the first of its kind in Egypt, providing cardholders with many privileges and benefits tailored to cater to the “Elite” segment’s needs.  Al Baba added: “With the resume of travel around the world, cardholders are able to utilize the new Visa card within Visa’s worldwide network of 70 million merchants. We look forward to growing our collaboration with Arab Bank to provide cardholders with a convenient and secure digital payment experience in line with their expectations.”

Arab Bank’s credit card products provide a wide range of benefits to their cardholders, including worldwide acceptance, easy and secure access to credit card accounts anytime through both “Arabi Mobile” and the bank’s internet banking service “Arabi Online” in addition to the Easy Payment Plan service.

Jul 14, 2021
For The First Time in Egypt - Arab Bank Launches Visa Travel Mate Credit Card
Arab Bank - Egypt has recently launched a blood donation campaign entitled "Donate to impact", which was held at the bank's head office in Cairo, in collaboration with the blood transfusion center at Kasr–El-Aini Hospital.

The campaign generated a remarkable amount of donations from Arab Bank employees, whose contributions reflect their genuine sense of responsibility and commitment towards supporting hospitals and helping patients who are in need of blood transfusions. The bank has also taken all precautionary measures during the campaign to ensure a safe environment for all parties.

The launch of this campaign comes as part of Arab Bank's community initiatives and its continuous efforts to support the health sector, as well as its commitment towards the wellbeing of its staff.
Mar 17, 2021
Arab Bank Holds a Blood Donation Drive for its Employees in Cooperation with Kasr-El-Aini Hospital
Arab Bank recently launched its contactless wearable payment solutions “BandPay” and mobile sticker in Egypt, allowing customers to conduct cardless transactions easily, safely and conveniently. The launch of these two solutions comes in line with the bank’s continuous efforts to reinforce its digital banking services, and provide its customers with innovative banking solutions that save them time and effort.
Through the contactless technology, customers will be able to carry out their banking transactions directly from their account without the need to present their cards by simply waving their “BandPay” or mobile sticker at points-of-sales machines that support contactless payments across a wide network of merchants.
Commenting on the launch, Mohamed Elhalawane, Head of Consumer Banking at Arab Bank – Egypt, stated: “Arab Bank’s contactless bracelet ‘BandPay’ and mobile sticker offer a range of features that enable customers to perform their banking transactions with utmost flexibility and security.” He added: “We continuously seek to provide innovative digital banking solutions in line with the latest technologies to expand the range of our value propositions in response to customers’ evolving needs and expectations.”
It is worth mentioning that the contactless bracelet “BandPay” and the contactless mobile sticker can both be used at various points-of-sales without the need to enter the PIN code up to a preset maximum daily limit. This is in line with the Central Bank of Egypt directives aiming at expanding the deployment of contactless banking services due to the COVID-19 pandemic outbreak.
Arab Bank’s customers can issue both items instantly through any of the bank’s branches.
Jan 6, 2021
Arab Bank Launches Contactless Bracelet “BandPay” and Mobile Sticker