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AlexBank signs EGP 50m protocol with Sawiris Foundation

The Bank of Alexandria (AlexBank) signed a protocol with Sawiris Foundation for Social Development (SFSD) worth EGP 50m for supporting underprivileged children, to be contributed to equally by both entities. This came during their annual iftar event dedicated to homeless children, which was organised in cooperation with Samusocial International Egypt, under the auspices of the …

Hossam Mounir

AlexBank, Jordan Post sign agreement to enhance remittances service

The Bank of Alexandria (AlexBank) announced on Monday in Amman the signature of a partnership agreement with the Jordan Post Company to facilitate the transferring of remittances to Egypt. The agreement was signed by Jordan Post Co General Manager Khaled Deib Al-Laham and Dante Campioni, managing director and CEO of AlexBank, and witnessed by Jordanian …

Daily News Egypt

IFC does not yet wish to sell its stake in AlexBank

International Finance Corporation (IFC), the World Bank Group’s investment arm, has shown no interest in selling its 9.25% stake in the Bank of Alexandria (AlexBank), a member of the Intesa Sanpaolo Group, up until now. Walid Labadi, IFC country manager for Egypt, Libya, and Yemen, said that the IFC will announce its intention to sell …

El Husseiny Hassan

AlexBank achieves EGP 2.783bn net profit in 2017

The Bank of Alexandria (AlexBank) announced that it recorded a net profit of EGP 2.783bn in 2017, marking an 83.8% from their 2016 results, while the bank’s net profit before taxes registered at EGP 3.665bn, with a 96.1% growth. According to the press statement issued by the bank, the witnessed improvement reflects a notable performance …

Daily News Egypt

How to get a personal loan from AlexBank

If you are a government or private sector employee whose employer transfers salaries to the bank through a written statement, you can obtain a personal loan from the Bank of Alexandria (AlexBank). According to the bank, the payment period is up to eight years, with competitive interest rates and fees. The minimum amount of financing …

Daily News Egypt

EBRD, ALEXBANK support energy efficiency in Egypt

EBRD and the European Investment Bank (EIB) are planning to support energy-efficient and renewable energy investment in Egypt through a financing package to ALEXBANK in the amount of up to $30m under the Green Economy Financing Facility (GEFF) for Egypt. EBRD is providing a financing facility of up to $15m to ALEXBANK for on-lending to …

Daily News Egypt

ALEXBank registers EGP 724m in net profits

ALEXBank reported a 9.5% growth in net profit in 2014, registering EGP 724m, despite 5% increase in the enacted tax rate, the bank announced last week. The bank noted that actual pre-tax profits reached EGP 1.07bn, up 16.3% compared to 2013 results. The bank’s net income increased by 12.5% year-on-year to reach EGP 2.68bn, which …

Daily News Egypt

ALEXBank, Education Ministry, Filmar Nile Textile sign agreement

The Egyptian Ministry of Education signed a long term agreement Saturday with ALEXBank and Filmar Nile Textile, part of Filmar Group, entitled “Cotton for Life” to promote Egypt’s cotton industry. The five-year agreement will encourage the development of students’ skills in agricultural schools and their training in the best cultivation methods. It will help ensure …

Daily News Egypt

Banks highlight improved services, quarterly results

CIB Q3 net profit rises 5.6% Egypt’s leading bank, Commercial International Bank (CIB), reported a 5.6% rise in the third quarter (Q3) net profit. The bank added that the net profit stood at approximately EGP 972m, up from EGP 920.4m in the same quarter last year. Q3 consolidated revenues were EGP 2.04bn, up 17% from …

Daily News Egypt

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