Bank of Alexandria, also known as AlexBank, is one of the largest banks in Egypt. It was established in 1957 and currently operates through 210 branches nationwide. The bank offers a wide range of services and products to both corporate and retail users, including cards, loans, and digital banking.
As of 2021, the Bank of Alexandria has a market share of almost 7% and assets of 5.2 billion euros. The major shareholder is Intesa Sanpaolo, which holds 70.25% of the bank shares. The Egyptian Government holds 20%, while the International Finance Corporation (IFC) has 9.75%. AlexBank is committed to providing its customers with the highest level of service and is always looking to expand its offerings to meet their needs.
History and Ownership
Founding and Early Years
Bank of Alexandria was established 1957 as a commercial banking institution in Egypt. It started its operations with 43 branches and units, gradually expanding its network to become one of the biggest banks in Egypt, with 210 branches nationwide. The bank played a significant role in funding the country’s industrial sector, which was announced as its specialization in 1972.
Privatization and Current Ownership
In 2006, the Egyptian Government decided to privatize the Bank of Alexandria, the first fully government-owned bank privatized in Egypt. The Italian bank Sanpaolo IMI acquired 80% of the bank shares for $1.6 billion, making it the major shareholder in the bank. After the merger of Sanpaolo IMI and Banca Intesa, the bank became a subsidiary of Intesa Sanpaolo, which currently holds 70.25% of the bank shares. The International Finance Corporation (IFC) has 9.75% of the shares, while the Egyptian Government holds the remaining 20%.
The successful privatization process was described as the best in Egypt, and it helped the bank to strengthen its position in the Egyptian banking sector. The bank’s strong presence in the Egyptian market and its partnership with Intesa Sanpaolo are expected to contribute to its growth and success in the future.
Banking Services
Bank of Alexandria offers various banking services to cater to its customers’ diverse needs. These options are categorized into three main types: Retail Banking, Corporate Banking, and Digital Banking.
Retail Banking
Bank of Alexandria’s retail banking services are designed to provide individual customers with a range of financial products and services. These include checking and savings accounts, credit and debit cards, personal and auto loans, and insurance.
Customers can select from a variety of checking and savings accounts that provide competitive interest rates and easy features, including online banking, mobile banking, and bill payment services. Bank of Alexandria’s credit and debit cards offer various advantages and rewards programs, making them an appealing alternative for frequent cardholders.
Bank of Alexandria offers personal loans with flexible repayment terms and competitive interest rates for customers who need to finance a new car or other personal expenses. The bank also provides auto loans for customers wanting to purchase a new or used vehicle.
Corporate Banking
Bank of Alexandria’s corporate banking services are tailored to the needs of businesses of all sizes. These services include business loans, trade finance, cash management, and treasury services.
Bank of Alexandria’s business loans are available to businesses that need to finance or expand their operations. The bank provides various loan solutions with flexible repayment options and competitive interest rates.
The Bank of Alexandria offers a range of trade finance services, such as letters of credit, import and export financing, and documentary collections, to businesses engaged in international trade.
Digital Banking
Bank of Alexandria’s digital banking services allow customers to access their accounts and transact online or through mobile devices. These services include online banking, mobile banking, and bill payment services.
Customers can use Bank of Alexandria’s online banking platform to check their account balances, view transaction history, transfer funds, and pay bills. The bank’s mobile banking app provides similar features and allows customers to manage their accounts.
In addition to these services, the Bank of Alexandria offers a range of other digital banking solutions, such as e-statements, SMS alerts, and online account openings. These services are designed to give customers a convenient and secure way to manage their finances.
Branch Network
Bank of Alexandria, Egypt, boasts a vast network of domestic and international branches. The bank has operated since 1957 and expanded its branch network to cater to its growing clientele.
Domestic Presence
Bank of Alexandria, Egypt, has a strong domestic presence with over 200 branches nationwide. These branches are strategically located in major cities and towns to ensure easy access to banking services for its customers. The bank has also invested in modern technology to ensure its customers can access banking services remotely.
Cairo, the capital of Egypt, has the highest number of Bank of Alexandria branches. The bank has over 50 branches located in different parts of the city to cater to its customers’ banking needs. Customers can easily find the nearest branch using the bank’s website or by contacting the bank’s customer care center.
International Representation
Bank of Alexandria, Egypt, has limited international representation, with only a few branches located outside the country. The bank has a branch in Dubai, United Arab Emirates, as its global headquarters. The Dubai branch offers banking services to customers in the UAE and other neighboring countries.
Bank of Alexandria, Egypt, is also a member of the SWIFT network, which enables it to offer international banking services to its customers. The bank’s SWIFT code is ALEXEGCX, and customers can use this code to transfer funds internationally.
In conclusion, the Bank of Alexandria, Egypt, has a strong domestic presence with a vast network of branches nationwide. The bank has also invested in modern technology to ensure its customers can access banking services remotely. Although the bank has limited international representation, it offers global banking services through its SWIFT network membership.
Financial Information
Assets and Shares
Bank of Alexandria is a joint stock company that provides retail, corporate, and investment banking services in the Arab Republic of Egypt through its head office in Cairo. According to the bank’s financial statements for the year ended December 31, 2021, its total assets were EGP 244.6 billion, an increase of 9.3% compared to the previous year. The bank’s net income was EGP 3.6 billion, a decrease of 4.1% compared to last year. Bank of Alexandria’s shares are publicly traded on the Egyptian Exchange (EGX) under the ALEX ticker.
Partnerships and Affiliations
Bank of Alexandria has established partnerships and affiliations with various financial institutions, including the International Finance Corporation (IFC). In 2019, the IFC announced that it had invested $100 million in the Bank of Alexandria to support its efforts to expand its lending to small and medium-sized enterprises (SMEs) in Egypt. The IFC’s investment is part of its strategy to promote economic growth and job creation in the Middle East and North Africa region.
Bank of Alexandria also collaborates with other financial institutions, such as the National Bank of Egypt and the Arab African International Bank. These collaborations allow the Bank of Alexandria to offer its customers a diverse range of financial goods and services, including loans, credit facilities, and financial derivatives.
Bank of Alexandria’s commitment to providing high-quality banking services and its partnerships with other financial institutions have helped it establish itself as one of the leading banks in Egypt. Its strong economic performance and commitment to innovation and customer service make it attractive for individuals and businesses looking for a reliable banking partner in Egypt.
Customer Engagement
Customer engagement is a crucial aspect of Bank of Alexandria’s operations. The bank is committed to building solid customer relationships by providing personalized services that meet their unique needs. The bank’s focus on customer engagement is reflected in its mission and values, emphasizing the importance of building trust and long-term customer relationships.
Mission and Values
Bank of Alexandria’s mission is to be a leading provider of financial services in Egypt while maintaining the highest standards of integrity and customer service. The bank’s values include a commitment to excellence, innovation, and social responsibility. These values guide the bank’s operations and help ensure that customers receive the highest-quality services.
Trust and Relationship Building
Bank of Alexandria recognizes that building customer trust is essential to long-term success. The bank’s focus on customer engagement is reflected in its commitment to building strong customer relationships based on trust and mutual respect.
To build trust and strong relationships with customers, Bank of Alexandria offers services designed to meet the needs of different customer segments. These services include personal banking, business banking, and investment services. The bank also provides various digital services, including online and mobile banking, allowing customers to access their accounts and manage their finances conveniently.
Frequently Asked Questions
How can I find the nearest Bank of Alexandria branch?
Customers can visit the bank’s official website and use the branch locator tool to locate the nearest Bank of Alexandria branch. This tool provides customers with the exact location of the nearest branch, contact information, and operating hours.
What career opportunities are available at Alex Bank?
Bank of Alexandria offers a wide range of career opportunities for individuals in the banking industry. Interested candidates can visit the bank’s career page on its official website to learn more about the available job openings and apply for them.
How do I use ALEXBANK Mobile Banking services?
To use ALEXBANK Mobile Banking services, customers must download the Ma7fazty mobile application from the App Store or Google Play Store. Once downloaded, users can sign in to their account using their username and password to access the various banking services available on the app.
What is the process for obtaining an IBAN from the Bank of Alexandria?
Customers can obtain an IBAN number from the Bank of Alexandria by visiting any of the bank’s branches and requesting it. Alternatively, they can contact the bank’s customer service hotline for assistance.
Who is the current owner of the Bank of Alexandria?
The Bank of Alexandria is a subsidiary of the Intesa Sanpaolo banking group based in Italy.
What is Alex Bank’s customer service hotline number?
Customers can reach the Bank of Alexandria’s customer service hotline by calling (+202) 19033 or (0020221263400) outside Egypt. For People with Disabilities (PwD) inquiries, customers can reach the bank at [email protected]
