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About NBK - Egypt

History

Overview

In 2007, in light of Egypt's broad-based economic growth and improving business environment, structural reforms and rapid FDI inflows energized the Egyptian economy, with several regional and international financial institutions now interested in operating in Egypt. Accordingly, National Bank of Kuwait (NBK) - the best bank in the Middle East and highest rated by international rating agencies - acquired AWB to start operations in Egypt for the first time, which marks a new milestone in the regional expansion of NBK.

Originally AWB was founded in 1980 with the far-sighted vision of several reputable Egyptian businessmen; Al Watany Bank of Egypt was established pursuant to the law number (93) of 1974.

At the time of the acquisition AWB was successfully growing in the footsteps of a promising economy, gradually established its reputation as the leading bank for the medium-sized institutional segment within the market.

After the acquisition in 2007 NBK kept the bank’s name as AWB, only adding “A Subsidiary of NBK Group” to the logo, until mid 2014 when the bank name and logo changed to NBK.

In 2008 NBK increased the bank’s capital to finally reached L.E 1 billion.

When the bank was acquired by NBK its number of branches was 24, soon after the acquisition NBK adopted a strategic expansion plan which increased the number of branches to reach 38 branches in 2014, which are all strategically located in the most vibrant spots across the country, from Cairo and Alexandria, to Giza, Mansoura and Sohag.