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National Bank of Egypt awarded the "Best Retail Bank" in Egypt in 2019"

National Bank of Egypt awarded the "Best Retail Bank" in Egypt in 2019 for the seventh year in a row according to "The Asian Banker"

 

National Bank of Egypt (NBE) was awarded the "Best Retail Bank in Egypt" in 2019 by The Asian Banker. The award is presented to the best bank in each of the countries covered by the evaluation based on the volume and evolution of retail banking and the number and coverage of distribution network units. The evaluation includes the volume of the retail banking portfolio in terms of deposits and loans as well as retail products, card types and their annual growth rates. It also assesses the quality of services delivered at the branch network and the number of electronic banking services offered to customers.

 

The award is one of the most prestigious awards that banks are keen to obtain as it is granted by one of the world's most renowned institutions with international credibility and weight in the evaluation of banks, including the Far East, the Gulf States and some African countries.

 

The assessment of Egyptian banks showed that NBE’s indicators of retail banking and its growth rates were robust and steadily increasing. The number of retail customers rose to 8 million at the end of February 2019, with 4,060 ATMs operating throughout the day. ATMs perform transactions such as cash withdrawals and deposits, cashing salaries, paying dues, bills and donations, and balance inquiry. The number of POS has increased to more than 13,900, and the branch network reached 456 branches and banking units nationwide. In terms of retail banking products, NBE has created a boom in e-services. The second phase of Ahly Net has been launched to reach more than one million customers who have now access to state-of-the art technology and smart communication devices to enjoy NBE's e-banking services quickly and safely which fulfill their aspirations and enrich their life style and different activities. Not to mention NBE's Phone Cash services, which have also contributed to promoting financial inclusion by attracting new segments of unbanked customers. Furthermore, as a pioneer in the field of e-services branches, NBE, earlier this year, inaugurated three e-service branches which are open from 10 am to 10 pm, offering a unique and different banking experience to customers. The e-service branches provide new electronic solutions such as the Interactive Teller Machines (ITMs) which were officially introduced for the first time through this type of branches. ITMs allow customers to withdraw and deposit cash amounts that exceed the daily limits of the ordinary ATMs. The e-service branches also offer the Video Call service which enables customers to communicate audio-visually with customer service representatives to facilitate engagement with the Bank's products and services.

 

The Bank's retail banking portfolio grew to EGP 63.3 bn. The cards issued for customers varied between 4.6 MM. debit cards, 4.2 MM. Al Ahly Payroll cards, 2.3 MM. prepaid cards and over 1.2 MM. credit cards.

 

According to NBE, the steady growth, expansions and diversification achieved by the bank in retail banking are factors behind winning The Asian Banker's prestigious award since 2012. The Best Retail Bank in Egypt award gives impetus to the Bank, its management and branches to offer top notch services to its customers to cater for their needs and fulfill their aspirations.

 

On behalf of NBE, Tariq Al Ghazali, General Manager of NBE's Representative Office in the United Arab Emirates, received the award during the ceremony held by The Asian Banker in Dubai.