Latest news with #EGBank
Zawya
5 hours ago
- Business
- Zawya
EG Bank, Mastercard join forces to reinforce digital payment services
Arab Finance: Egyptian Gulf Bank (EG Bank) has teamed up with Mastercard to boost financial accessibility, expand digital payment adoption, and provide affluent individuals with new segments to the bank's card portfolio, as per an emailed press release. The collaboration aligns with EG Bank's strategy to offer a convenient, seamless, and secure payment experience for its customers. Under the partnership deal, Mastercard will support the EGX-listed lender in developing its portfolio of debit, credit, and commercial cards, which will secure tailored financial solutions with additional benefits. The bank seeks to attract new customer segments by offering different banking services to individuals, businesses, and corporations. This is in addition to a wide range of digital banking services, such as mobile banking and internet banking, enabling customers to manage their accounts and conduct transactions remotely. Mohamed Assem, Country Manager for Egypt, Iraq, and Lebanon at Mastercard, said: 'This collaboration underscores our joint commitment to driving the growth of the digital payment ecosystem, unlocking new opportunities for sustainable financial empowerment.' Yasmeen Galal, Head of Consumer Banking and SMEs at EGBANK, commented: 'Our collaboration with Mastercard marks a significant milestone in our strategy to diversify our product offerings and enhance our customers' banking experience.' 'This collaboration enables us to offer seamless and rewarding financial solutions that meet the evolving needs of today's consumers while driving long-term growth and innovation in Egypt's financial landscape,' Galal added. In the first quarter (Q1) of 2025, EG Bank posted 27% year-on-year (YoY) higher consolidated net profits after tax at EGP 758.713 million in the first quarter (Q1) of 2025, compared to EGP 596.541 million. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
10 hours ago
- Business
- Zawya
EG Bank, Mastercard forge partnership to strengthen digital payment services
Cairo: Egyptian Gulf Bank (EG Bank) has joined forces with Mastercard to drive financial accessibility, expand digital payment adoption, and launch new segments to its card portfolio. The collaboration aims to reinforce the lender's strategy and boost its commitment to delivering a convenient, seamless, and secure payment experience, according to a press release. Mastercard will enable EG Bank to develop its portfolio of debit, credit, and commercial cards, securing tailored financial solutions with enhanced benefits. The EGX-listed bank will expand its offerings and digital banking services, such as mobile banking and internet banking, which allow customers to manage their accounts and conduct transactions remotely. Yasmeen Galal, Head of Consumer Banking & SMEs at EGBANK, said: 'This collaboration enables us to offer seamless and rewarding financial solutions that meet the evolving needs of today's consumers while driving long-term growth and innovation in Egypt's financial landscape.'
Zawya
08-05-2025
- Business
- Zawya
Egypt: EG Bank reports 27% YoY increase in Q1 consolidated profit
Arab Finance: Egyptian Gulf Bank (EG Bank) posted a 27% year-on-year (YoY) increase in consolidated net profit after tax for the first quarter (Q1) of 2025, according to the financial indicators filed to the Egyptian Exchange (EGX) on May 7th. The bank's consolidated net profit after tax stood at EGP 758.713 million in Q1 2025, compared to a profit of EGP 596.541 million in the same quarter of 2024. Moreover, the bank's standalone net profit after tax jumped by 45% YoY in Q1 2025 to EGP 781.450 million from EGP 537.491 million. EG Bank is engaged in the provision of corporate, retail, and investment banking services through a network of 16 branches located across Egypt. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
