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Arab Times
3 days ago
- Business
- Arab Times
Al Ahli Bank of Kuwait – Egypt Achieves 35% EGP 2.6 Billion Net Profit in the First Half of 2025
KUWAIT CITY, Aug 16: Al Ahli Bank of Kuwait – Egypt (ABK-Egypt) achieved outstanding financial results for the first half of the year 2025 with net profit recording EGP 2.6 billion by the end of June 2025, reflecting an increase of 35% compared to EGP 1.9 billion for the same period last year, after excluding foreign exchange revaluation impact. Net interest income grew by 28% to reach EGP 3.8 billion compared to EGP 3 billion in the first half of 2024. Meanwhile, total assets grew by 15% to reach EGP 163.4 billion compared to EGP 141.6 billion at the end of 2024. Total customer deposits increased by 16%, reaching EGP 139.1 billion compared to EGP 119.9 billion in December 2024, and total gross loans portfolio increased by 20% to reach EGP 83.4 billion compared to EGP 69.3 billion at the end of 2024. Moreover, the non-performing loans (NPL) ratio recorded 1.59% at the end of June 2025 compared to 1.74% at the end of 2024. Commenting on these results, Mr. Ali Marafi, Chairman of ABK-Egypt, said, 'The Bank's strong performance, particularly the significant growth in total assets, demonstrates the strength of our financial position and our solid operational model across key business lines. These results underscore our ability to continue on our successful journey despite global and regional economic turbulence.' He also expressed his gratitude for the efforts of the Executive Management and their unwavering commitment to realizing the Bank's ambitious growth strategy, which emphasizes agility and innovation to ensure adapting to the evolving economic landscape. Marafi stated that during the first half of 2025, ABK-Egypt continued to expand its footprint with the opening of a new branch in 6th of October City. This move aligns with the Bank's ambitious strategy for carefully planned geographic expansion and establishing a presence in prime locations to grow its customer base. He emphasized the Bank's unwavering commitment to excellence and innovation as key drivers in strengthening its competitive position and increasing its market share in Egypt. Strategic Vision Marafi added, 'Our ambitious vision focuses on boosting our geographical presence across Egyptian governorates as well as diversifying our range of products and services that meet the rising needs of various customers to best attract new segments and expand our customer base.' He further stated that this expansion agenda is a fundamental pillar for supporting national directions and the Central Bank of Egypt's (CBE) efforts in promoting financial inclusion, which is considered a cornerstone in Egypt Vision 2030 and a catalyst for achieving sustainable development goals and fostering a competitive and diversified economy. Marafi stated that ABK-Egypt is continuing its digital transformation journey by introducing advanced technologies within its branches and enhancing its banking solutions to serve customers with the highest technical standards. These efforts, he noted, contribute significantly to boosting customer satisfaction and strengthening their trust in the Bank. He concluded by affirming that ABK-Egypt is fully committed to supporting and financing development projects, as well as assisting national initiatives aimed at achieving sustainable growth across various sectors. This commitment reflects the Bank's role as a responsible financial institution in the Egyptian market. Marafi also expressed his appreciation for the strong support the Bank receives from CBE and all regulatory authorities in Egypt, which play a key role in enhancing its performance and expanding its presence among diverse customer segments. Added Value In the same context, Mr. Khaled El Salawy, CEO and Managing Director of ABK-Egypt stated: 'The Bank managed to achieve EGP 3.4 billion profit before tax, representing a growth rate of 32% compared to EGP 2.6 billion for the same period last year, after excluding foreign exchange revaluation impact. This affirms the Bank's efficiency in adapting to changing market conditions, seizing business opportunities for growth as well as its ongoing commitment to delivering added value to both customers and shareholders." Khaled El Salawy added, 'Over a period of ten years marking our presence in the Egyptian market, we have managed to build a strong track record of achievements in terms of revenues and market position.' He primarily attributed this success to the collective efforts of the entire team and the support of the Executive Management, who were keen on orchestrating efforts to maximize performance efficiency and deliver innovative products and outstanding services to a diverse customer base. He continued, 'We will continue on our digital transformation path to enhance operational efficiency and ultimately improve customer experience. This can be attained through leveraging data and advanced technologies to personalize banking services, while upholding the highest standards of transparency and security in all financial transactions.' A New Chapter El Salawy affirmed that ABK-Egypt is embarking on a new chapter in its journey in the Egyptian market aimed at achieving more ambitious milestones for growth and development. The Bank looks to the future with a clear strategy and strong vision, supported by a solid track record of success. ABK-Egypt also confirms its innate understanding of the crucial impact of corporate social responsibility in the development of local communities, through launching an array of social initiatives across Egyptian governorates that promote economic empowerment for various segments. The Bank also takes pride in supporting the development of key sectors as part of its active role in driving Egypt's economic and social progress. El Salawy noted that in the first half of this year, the Bank continued forging strategic partnerships to deliver exclusive offers to its customers. He highlighted the launch of several promotional campaigns and special discounts designed to reward customers for using the Bank's diverse range of cards and solutions in completing their financial and banking transactions. He further emphasized the Bank's strong commitment to supporting young entrepreneurs and owners of small and medium-sized enterprises by providing the essential funding and resources needed to bring their projects to life successfully. El Salawy also underscored the Bank's dedication to developing the skills of its employees across all departments, considered a cornerstone of its success and growth plans, through comprehensive training programs. These initiatives aim to enhance staff performance, increase productivity and innovation, improve the quality of customer service, and attract more clients to the Bank's continuously expanding family. New Awards On another successful note, the Bank has recently received two prestigious awards from International Business Magazine. ABK-Egypt was named 'Best Corporate Banking Services Bank – Egypt,' in recognition of its outstanding efforts in delivering innovative and integrated financial solutions to its corporate customers. In addition, El Salawy was honored as 'Best CEO – Egypt 2025,' in recognition of his distinguished professional career and exceptional leadership capabilities that were reflected through a solid track record. This recognition reinforces the pivotal role he has played since assuming the position of CEO and Managing Director of ABK-Egypt. These accolades join a growing list of awards the Bank has earned in recent years from leading performance evaluation institutions, underscoring its excellence and distinction across a wide range of assessments at the local, regional, and global levels.
Kuwait Times
3 days ago
- Business
- Kuwait Times
ABK–Egypt achieves 35% increase in net profit to EGP 2.6bn in H1 2025
Net interest income grows 28% to reach EGP 3.8 billion KUWAIT: Al-Ahli Bank of Kuwait – Egypt (ABK-Egypt) achieved outstanding financial results for the first half of the year 2025 with net profit recording EGP 2.6 billion by the end of June 2025, reflecting an increase of 35 percent compared to EGP 1.9 billion for the same period last year, after excluding foreign exchange revaluation impact. Net interest income grew by 28 percent to reach EGP 3.8 billion compared to EGP 3 billion in the first half of 2024. Meanwhile, total assets grew by 15 percent to reach EGP 163.4 billion compared to EGP 141.6 billion at the end of 2024. Total customer deposits increased by 16 percent, reaching EGP 139.1 billion compared to EGP 119.9 billion in December 2024, and total gross loans portfolio increased by 20 percent to reach EGP 83.4 billion compared to EGP 69.3 billion at the end of 2024. Moreover, the non-performing loans (NPL) ratio recorded 1.59 percent at the end of June 2025 compared to 1.74 percent at the end of 2024. Commenting on these results, Ali Marafi, Chairman of ABK-Egypt, said, 'The Bank's strong performance, particularly the significant growth in total assets, demonstrates the strength of our financial position and our solid operational model across key business lines. These results underscore our ability to continue on our successful journey despite global and regional economic turbulence.' He also expressed his gratitude for the efforts of the Executive Management and their unwavering commitment to realizing the Bank's ambitious growth strategy, which emphasizes agility and innovation to ensure adapting to the evolving economic landscape. Marafi stated that during the first half of 2025, ABK-Egypt continued to expand its footprint with the opening of a new branch in 6th of October. This move aligns with the Bank's ambitious strategy for carefully planned geographic expansion and establishing a presence in prime locations to grow its customer base. He emphasized the Bank's unwavering commitment to excellence and innovation as key drivers in strengthening its competitive position and increasing its market share in Egypt. Strategic vision Ali Marafi, Chairman of ABK-Egypt Khaled El Salawy, CEO and Managing Director of ABK-Egypt Marafi added, 'Our ambitious vision focuses on boosting our geographical presence across Egyptian governorates as well as diversifying our range of products and services that meet the rising needs of various customers to best attract new segments and expand our customer base.' He further stated that this expansion agenda is a fundamental pillar for supporting national directions and the Central Bank of Egypt's (CBE) efforts in promoting financial inclusion, which is considered a cornerstone in Egypt Vision 2030 and a catalyst for achieving sustainable development goals and fostering a competitive and diversified economy. Marafi stated that ABK-Egypt is continuing its digital transformation journey by introducing advanced technologies within its branches and enhancing its banking solutions to serve customers with the highest technical standards. These efforts, he noted, contribute significantly to boosting customer satisfaction and strengthening their trust in the Bank. He concluded by affirming that ABK-Egypt is fully committed to supporting and financing development projects, as well as assisting national initiatives aimed at achieving sustainable growth across various sectors. This commitment reflects the Bank's role as a responsible financial institution in the Egyptian market. Marafi also expressed his appreciation for the strong support the Bank receives from CBE and all regulatory authorities in Egypt, which play a key role in enhancing its performance and expanding its presence among diverse customer segments. Added value In the same context, Khaled El Salawy, CEO and Managing Director of ABK-Egypt stated: 'The Bank managed to achieve EGP 3.4 billion profit before tax, representing a growth rate of 32 percent compared to EGP 2.6 billion for the same period last year, after excluding foreign exchange revaluation impact. This affirms the Bank's efficiency in adapting to changing market conditions, seizing business opportunities for growth as well as its ongoing commitment to delivering added value to both customers and shareholders.' Khaled El Salawy added, 'Over a period of ten years marking our presence in the Egyptian market, we have managed to build a strong track record of achievements in terms of revenues and market position.' He primarily attributed this success to the collective efforts of the entire team and the support of the Executive Management, who were keen on orchestrating efforts to maximize performance efficiency and deliver innovative products and outstanding services to a diverse customer base. He continued, 'We will continue on our digital transformation path to enhance operational efficiency and ultimately improve customer experience. This can be attained through leveraging data and advanced technologies to personalize banking services, while upholding the highest standards of transparency and security in all financial transactions.' A new chapter El Salawy affirmed that ABK-Egypt is embarking on a new chapter in its journey in the Egyptian market aimed at achieving more ambitious milestones for growth and development. The Bank looks to the future with a clear strategy and strong vision, supported by a solid track record of success. ABK-Egypt also confirms its innate understanding of the crucial impact of corporate social responsibility in the development of local communities, through launching an array of social initiatives across Egyptian governorates that promote economic empowerment for various segments. The Bank also takes pride in supporting the development of key sectors as part of its active role in driving Egypt's economic and social progress. El Salawy noted that in the first half of this year, the Bank continued forging strategic partnerships to deliver exclusive offers to its customers. He highlighted the launch of several promotional campaigns and special discounts designed to reward customers for using the Bank's diverse range of cards and solutions in completing their financial and banking transactions. He further emphasized the Bank's strong commitment to supporting young entrepreneurs and owners of small and medium-sized enterprises by providing the essential funding and resources needed to bring their projects to life successfully. El Salawy also underscored the Bank's dedication to developing the skills of its employees across all departments, considered a cornerstone of its success and growth plans, through comprehensive training programs. These initiatives aim to enhance staff performance, increase productivity and innovation, improve the quality of customer service, and attract more clients to the Bank's continuously expanding family. New awards On another successful note, the Bank has recently received two prestigious awards from International Business Magazine. ABK-Egypt was named 'Best Corporate Banking Services Bank – Egypt,' in recognition of its outstanding efforts in delivering innovative and integrated financial solutions to its corporate customers. In addition, El Salawy was honored as 'Best CEO – Egypt 2025,' in recognition of his distinguished professional career and exceptional leadership capabilities that were reflected through a solid track record. This recognition reinforces the pivotal role he has played since assuming the position of CEO and Managing Director of ABK-Egypt. These accolades join a growing list of awards the Bank has earned in recent years from leading performance evaluation institutions, underscoring its excellence and distinction across a wide range of assessments at the local, regional, and global levels. Ali Marafi Chairman of ABK-Egypt The strong performance and significant growth in total assets demonstrate the strength of our financial position and solid operational model.
Kuwait Times
19-06-2025
- Business
- Kuwait Times
ABK Kuwait-Egypt reports strong results for first quarter of 2025
Over the course of our operational journey, the Bank succeeded in achieving robust growth rates across all financial indicators and managed to demonstrate its strong presence. KUWAIT: Al Ahli Bank of Kuwait – Egypt (ABK-Egypt), reported strong Q1 2025 financial results with Net Profit standing at EGP 1.3 billion, reflecting an increase of 42.3 percent for March 31, 2025 compared to same period last year after excluding foreign exchange revaluation impact. Net Interest Income grew 26.2 percent to reach EGP 1.8 billion compared to EGP 1.4 billion in the same period of the last year. Despite the challenging economic landscape, the Bank managed to further expand its total footings with Total Assets recording a 10.2 percent increase in the end of the Q1 2025 to reach EGP 156 billion compared to EGP 141.6 billion in December 2024. Customer Deposits grew by 12 percent to reach EGP 134.1 billion compared to EGP 119.9 billion in December 2024. Furthermore, the Bank's Total Gross Loans Portfolio grew by 15.8 percent to reach EGP 80.2 billion compared to EGP 69.3 billion in December 2024. Non-Performing Loans (NPL) ratio recorded 2.04 percent at the end of March 2025 compared to 1.74 percent at the end of December 2024. Commenting on the results, Ali Marafi, Chairman of ABK-Egypt stated, 'Over the course of our operational journey that is close to ten years in the Egyptian market, the Bank succeeded in achieving robust growth rates across all financial indicators and managed to demonstrate its strong presence, whilst carefully adhering to all risk management practices to best navigate challenging market conditions and ensure achieving its sustainable success and expansion goals.' Marafi also confirmed that ABK-Egypt has always been keen on prioritizing corporate social responsibility as an integral part of its well-articulated strategy. Since it started operating in Egypt, the Bank has proactively played a leading role in supporting the communities in which it operates through various social initiatives that support the development of the education and healthcare sectors in addition to providing financial relief to the underprivileged. The Bank has also made various contributions to help integrate individuals with disabilities and improve the lives of children, women and families in need. Marafi noted that ABK-Egypt will continue to support development plans in Egypt in cooperation with the relevant authorities. He added that the Bank remains committed to providing the necessary financing to assist individual and corporate clients in carrying out their operations and expanding their activities. This thereby strengthens trust in the Bank as a preferred banking partner in the Egyptian banking sector. Marafi added that ABK-Egypt enjoys the trust of numerous international organizations and institutions, as reflected by the many awards it has received, which affirm its ability to meet the needs of all customers and keep pace with developments in the banking industry. This, in turn, helps the Bank strengthen its competitive position within the banking sector. He expressed his gratitude to the Central Bank of Egypt and the Egyptian government for their continued support of the Bank and the banking sector as a whole, affirming the Bank's full commitment to contributing to the success of future plans aimed at enhancing economic activity and achieving Egypt Vision 2030 across various sectors. Stability and flexibility In the same context, Khaled El Salawy, Chief Executive Officer & Managing Director of ABK-Egypt, affirmed that these results reflect ABK-Egypt's underlying strength and its emphasis on achieving steady, profitable growth. It also underscores the resilience of the Bank's financial position, the agility of its operational frameworks, and the strength of its risk management practices. Adding that the Bank will continue to focus on its digital transformation agenda as one of the chief drivers of sustainable growth. He also expressed his gratitude for the combined efforts of the entire team and their commitment to delivering very strong results through diversifying revenue streams, which led to achieving EGP 1.7 billion Profit Before Tax excluding foreign exchange revaluation impact. El Salawy further elaborated, 'As we continue working on our plans towards fortifying ABK-Egypt's position in the Egyptian market and playing an active role in supporting the Egyptian economy, our vision will remain focused on providing experiences that simplify and enrich people's lives through our range of innovative and secure banking solutions that serve all customer segments. Moreover, we maintain a positive outlook regarding market conditions and will continue to support all endeavors led by the Egyptian government and the Central Bank of Egypt that pave the way for a brighter future.' El Salawy additionally stated that, in line with the Bank's ambitious growth strategy and plans to expand its geographical presence to best cater for its growing customer base in Egypt, ABK-Egypt recently opened its new branch located in Palm Hills, 6th of October. This recent opening brings the Bank's network to 46 branches covering 18 governorates across the country. Furthermore, the Bank will continue to prioritize the enhancement of its suite of offerings and upgrading its service quality to ensure a distinguished banking experience across all channels and to maximize value for its customers. International Certification It is worth mentioning that ABK-Egypt recently obtained the Payment Card Industry Data Security Standard (PCI DSS) certification V4.0.1, a globally recognized benchmark that guarantees the highest standards in payment cards data protection. The Bank was certified after successfully passing a full audit process and a comprehensive review on Bank's systems and technical procedures related to electronic payment cards data processing. Obtaining this certification reflects the Bank's full commitment to the regulations and directives of the Central Bank of Egypt and will further strengthen its ongoing efforts to implement global best practices in information security and the protection of customer data from threats or breaches. The PCI DSS certification marks an important milestone in the Bank's journey to solidify its credibility in the Egyptian banking market and support its strategy aimed at developing digital services while ensuring the highest levels of security in banking transactions - offering customers a safe and reliable experience. This achievement is the result of effective collaboration across various divisions within the bank, as well as the presence of highly qualified personnel with the technical expertise and skills required to implement advanced security solutions. Previously, ABK-Egypt had also obtained the ISO/IEC 27001:2013 certification in Information Security Management Systems, making it one of the few Egyptian banks to earn this international accreditation. This stands as further proof of its excellence in applying security governance standards and ensuring data confidentiality and professional handling. Our vision will remain focused on providing experiences that simplify and enrich people's lives through our range of innovative and secure banking solutions that serve all customer segments.
