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    Dear Customer, please note that NBK - Egypt will never contact you to request any personal or confidential information regarding your accounts or cards. In case this happens, please call the Call Center immediately at 19336.

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Egypt: National Bank of Kuwait - Egypt Partners with Mastercard to Launch a Wide Array of Payment Cards

05.12.2017

The National Bank of Kuwait – Egypt has unveiled its new partnership with Mastercard, a leading technology company in the global payments industry, launching a range of credit cards and debit cards that cater to the customers’ diverse needs.

Among the newly launched cards is the World Mastercard Credit Card, which offers a range of exclusive benefits and services that meet the needs of distinguished customers, including, but not limited to, free access to over 550 airport lounges in 120 countries around the world. The card also gives customers access to the NBK Miles Points program enabling them to redeem mileage points for airline tickets at more than 800 airlines or in hotel reservations at more than 150,000 hotels around the world.  In addition to the opportunity of using the points when renting cars from major companies, and cash back value given in return to the earned mileage points. Mastercard World cardholders also enjoy several other benefits and travel insurance services.

The bank also introduced the Platinum Mastercard Credit Card that offers a wide range of features and highest levels of security and convenience to its privileged customers. The Platinum Mastercard Card gives cardholders the purchasing power they need both in Egypt and abroad, as well as the privileges of the “NBK Miles Points Program” and free access to the exclusive waiting areas at some airports in Egypt and the Middle East.

On this occasion, Mr. Amr  Elalfy , Chief Business officer at NBK – Egypt, said: “We are very proud with the launch of various kinds of global Mastercard cards, which are deemed among the most popular cards around the world as they carry several advantages for a distinctive segment of bank customers, especially customers who want to travel, whether for tourism or to take advantage of high-end exclusive promotions offered by their unique Mastercard cards, as well as enjoying safe banking transactions with the “smart chip” technology away from the risk of having a card lost or stolen since it is easy to get a replacement card anywhere in the world”.

He added that the launch of NBK – Egypt Mastercard cards comes as part of the Bank's exclusive electronic services designed to meet the needs and requirements of all of the Bank’s customers in line with NBK’s regional and international position.

In turn, Mr. Magdy Hassan, General Manager Egypt and North Africa – Mastercard, said: “In light of the ongoing change in consumers’ behaviors and spending patterns, Mastercard recognizes the importance of providing modern customers with fast, convenient and secure way to pay and that matches their lifestyles. Our partnership with the National Bank of Kuwait not only brings value to cardholders regardless of their location while complementing their bespoke needs, but the newly introduced cards also provide distinct facilities and attractive offers with a view to encourage more individuals to adopt digital payment”.

NBK – Egypt is a subsidiary of NBK Group. It was founded in Egypt in 1980 under the name of the National Bank of Egypt. Its network of branches spreads to key areas in governorates and cities including Cairo, Giza, Alexandria, the Delta, Sinai, the Red Sea and Upper Egypt, as well as industrial areas such as the city of the Sixth of October and the Tenth of Ramadan. It is also one of the few banks in the Egyptian market that has an Islamic license in addition to the conventional license. It has two Islamic branches which allow the Bank to offer Sharia’a-compliant products as well as traditional products.

The National Bank of Kuwait, established in 1952 as the oldest national bank and financial institution in the State of Kuwait and the Arabian Gulf region, is one of the largest and most prominent Arab banks and it has the highest credit rating in the Middle East. The global agencies Moody's, Standard & Poor's, and Fitch unanimously confirm the robustness of its financial indicators, the quality of its high assets, its strong capitalization, the experience of its management, the clarity of its strategic vision and the availability of a stable funding base. The National Bank of Kuwait also maintains its position among the top 50 safest banks in the world for the twelfth consecutive year. NBK Group today has the largest network of local and international branches, reaching 153 branches and subsidiaries covering four continents around the world and spread across the United States of America, Europe, the Gulf States, the Middle East, China and Singapore.



Egypt: NBK-Egypt Reports EGP 7.3 billion (Equivalent to KWD 51.9 million) in Net Profit in FY2024

16.02.2025

National Bank of Kuwait - Egypt (NBK-Egypt) reported net profits of EGP 7.3 billion (Equivalent to KWD 51.9 million ) for the financial year  2024 compared to EGP 4.021 billion (Equivalent to KWD 41.4 million) reported in 2023 marking an impressive 81% increase compared to financial year 2023.

Net Operating Income stood at EGP 13.5 billion by the end of FY2024, recording a substantial increase of 57% from EGP 8.7 billion recorded by the end of FY2023. In the meantime, Net Interest Income grew by 66%, reaching EGP 11.6 billion compared to EGP 7 billion in FY2023.

Meanwhile, Net Operating Income (excluding interests) increased to EGP 1.9 billion in FY2024, compared to EGP 1.7 billion in FY2023, up by 17%, while Cost to Net Operating Income dropped from 28% in FY2023 to 21.2% in FY2024.

Total assets reached EGP 196 billion by the end of FY2024, up by 50% compared to EGP 131 billion by the end of FY2023. Furthermore, total loans and credit facilities expanded to EGP 104 billion in FY2024, reflecting a growth rate of 37% compared to EGP 76 billion recorded at the end of FY2023.  Additionally, customer deposits increased to EGP 160 billion by the end of FY2024, up from EGP 106 billion at the end of FY2023, representing a growth rate of 51%.

Furthermore, the Return on Average Assets (ROAA) improved to 4.5% by the end of FY2024, compared to 3.4% by the end of FY2023, while the Return on Average Equity (ROAE) increased to 39.2% in FY2024, up from 30.7% in FY2023.

Commenting on the financial results announced by NBK-Egypt, Ms. Shaikha Al-Bahar, Deputy Group Chief Executive Officer, National Bank of Kuwait, and Chairman of NBK-Egypt, said: “NBK-Egypt delivered record profits in 2024, underscoring the success of its operational strategy and reaffirming its trajectory toward further strengthening its position in the Egyptian market. As NBK Group’s most significant market outside Kuwait, Egypt holds substantial growth potential, driven by its promising opportunities and positive economic outlook.”

Al-Bahar highlighted that NBK’s operations in Egypt are among the group’s most profitable, delivering the highest returns on equity and assets.

Al-Bahar emphasized that the sustained expansion of the balance sheet and the growth of the bank's financial indicators reaffirm the success of its business diversification strategy and accelerated digital transformation. This approach aims to strengthen market share, particularly in retail banking, within the region’s most populous country and a key hub for investment opportunities.

“We are committed to enhancing service quality, expanding our geographical presence, and reaching a more diverse customer base. This progress is driven by the significant advancements in our digital infrastructure, information technology, and alternative electronic channels, which have positioned the bank as a strong competitor with a distinct presence in the Egyptian banking sector. This comes amid the rising demand for banking services and the increasing momentum of financial inclusion,” Al-Bahar stated.

“Egypt is a key growth market for NBK Group and a long-term strategic investment, where the Group remains committed to reinforcing its presence and strengthening its position,” Al-Bahar confirmed.

Meanwhile, Vice Chairman, CEO, and Managing Director of National Bank of Kuwait-Egypt, Mr. Yasser El-Tayeb, said: “The bank's strong financial performance at the end of 2024 surpassed expectations and targets, despite challenges and exceptional circumstances affecting the business environment both locally and globally. This achievement underscores the bank’s resilience and prudent business model, reinforcing its ability to sustain success and growth.”

Al-Tayeb emphasized that the bank’s growth is balanced across all business activities, ensuring efficiency and a risk profile aligned with sustainable expansion. This success is driven by a prudent strategy that meets the evolving needs of both corporate and individual clients while diversifying income streams.

Al-Tayeb noted that the bank’s income sources stem from credit operations in the corporate sector, alongside a rapidly expanding retail banking segment, which has grown significantly in recent years. The bank’s credit portfolio reflects a diverse client base, encompassing large, medium, and small enterprises, while its retail banking portfolio serves a broad spectrum of customers. This diversity underscores the strength and stability of the bank’s revenue streams. He further emphasized the bank’s commitment to strengthening its position in retail banking by introducing more advanced services and products tailored to meet customers' evolving financial needs and aspirations.

 

El-Tayeb further emphasized NBK-Egypt’s commitment to supporting the global shift toward sustainable finance and the transition to a green economy. The bank actively backs environmentally friendly projects that promote sustainability and increased reliance on renewable energy while exploring solutions to mitigate climate change and reduce carbon emissions. He highlighted that sustainable finance has become a vital tool for ensuring long-term financial stability and resilience.

 

He also affirmed the bank’s strong commitment to leveraging technology and digital channels to enhance its competitive edge in the banking sector. Recognizing their pivotal role, NBK-Egypt continues to expand its electronic services and encourage broader customer adoption of digital payments. This aligns with the broader strategy of the Egyptian government and the Central Bank of Egypt to promote financial inclusion, integrate new customer segments into the formal banking system, and drive the transition toward a less cash-dependent economy.

El-Tayeb concluded by highlighting NBK-Egypt’s steadfast commitment to social responsibility, emphasizing that since the Group’s entry into the Egyptian market in 2007, the bank has actively supported the local community. Through partnerships with reputable civil society organizations, NBK-Egypt channels its development efforts toward impactful initiatives, reinforcing its role as a responsible corporate citizen. Social responsibility remains a cornerstone of the bank’s sustainability strategy, contributing to national development across key areas, including:

 

• Healthcare provision

• Education and employment support

• Environmental conservation

• Social solidarity

• Development of underserved areas

• Economic development