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NBK plans to unleash digital banking to facilitate its expansions in Egypt

NBK plans to unleash digital banking to facilitate its expansions in Egypt

Cairo: The National Bank of Kuwait (NBKE) is focusing on consolidating its foothold in the market of banking services, as senior officials at the bank have highlighted digital banking as a key player in facilitating its expansion policy.

"NBK seeks to launch mobile banking and e-payment in Egypt in the upcoming period," they told Al-Mal newspaper on the sidelines of a ceremony organized by NBK to mark 10th anniversary for working in the country.

In his speech delivered on the sidelines of the ceremony, chief executive and chairman of NBK Esam El-Sakr said the Kuwaiti investments in Egypt range between USD6 and 7 billion, noting that the success achieved by the Kuwaiti-based bank in Egypt has surpassed expectation.

" We seek to increase our branches in Egypt to 60 up from 43 by 2020. Moreover, NBK-Egypt has the advantage of providing Sharia-compliant products in addition to conventional ones," said El-Sakr, noting that the bank's profits are edging up year after year on accounts of the improving business climate especially in the past few years.

 

Source: Al-Mal Newspaper 

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