Bank of the Year in Egypt by International Standards: Ahli United Bank – EgyptAhli United Bank award banking egypt
Haajar Abu Ismail
Ahli United Bank – Egypt (AUBE) has been awarded the prestigious “Bank of the Year 2022” award by The Banker – UK, a leading international publication. The Banker is a trusted, world-renowned source that has been providing world banking information on everything in the industry since 1926, including regulations and risks, data trends, market updates, technological advances and all other relevant issues. Through over 90 years of coverage on headline cases ranging from the Wall Street Crash of 1929 to the financial crisis of 2008, there is no disputing the authority, accuracy, or integrity of The Banker.
Overall, the publication offers unrivalled coverage of the banking industry, making it that much more impressive that Ahli United Bank- Egypt has won the 2022 award. The impact of this title is heavy, as it carries with it the weight of international recognition regarding Ahli United’s competency as a banking institution. The awarding ceremony is considered the largest gathering of its kind for dignitaries of financial and economic institutions outside of meetings concerning the International Monetary Fund (IMF) and the World Bank (WB), and achieving an award is beyond a competitive endeavour, as well as a well-deserved honour.
Ahli United Bank – Egypt has earned the 2022 award not only through the merit of its strong financials, sound business model and effective bank strategy but through the various initiatives implemented by the bank over the past year. For one, they implemented a transformation strategy that utilises innovative digital solutions, such as the development of a platform for corporate customers with the necessary means for them to work remotely while efficiently managing their cash flow. In addition, they also provided customers with the ability to initiate an account opening and receive their account number digitally along with the service of executing transactions while making real-time inquiries. This technical development was spurred on by Ahli United’s investment in financial technology, which is one of the fastest-growing fields in Egypt.
In addition to all this, the net profit of AUBE increased during the period from the beginning of 2022 until the end of September by 74%, compared to the same period of the previous year, the net portfolio of loans and credit facilities grew by 28%, and the bank’s customer deposits portfolio recorded a growth rate of about 24.5%, also during the same period.
The AUBE’s achievements this year was, of course, a result of the dedication and effort of the bank’s staff, who made this possible. With the assured quality of personnel and services at AUBE, there is no doubt about its status as a leading institution in Egypt’s banking field.