AAIB underwent significant expansions: Bank leaders

Hossam Mounir
3 Min Read
Photo Handout to DNE

The Arab African International Bank (AAIB) underwent significant expansions this year by establishing new branches nationwide, and increasing the number of ATMs, according to two prominent leaders in the bank.

The bank added 14 new branches to its network this year, mainly in the Delta region, the Suez Canal area, and new districts in Greater Cairo.

According head of the Channels and Wealth Management Division, Hala El-Fass, the bank is investing in building and launching a strong network of branches, as they are the most important contact points with customers.

She explained that the locations of the new branches are being chosen according to specific measures, some of which are the attractiveness of the area in terms of the population density, the expected size of business, and the presence of other branches close to the bank.

El-Fass said the new branches achieved enormous success rates in terms of profitability and the level of customer satisfaction, which is measured periodically through the quality management division of the bank.

The new branches create promising investment opportunities, through attracting new categories of customers; they aim also at strengthening the concept of financial inclusion.

The new AAIB branches include the branches of Messaha Square in Dokki, the Nile corniche at Giza, Nasr Road in Maadi, Sudan Street in Mohandessin, Korba in Heliopolis, the Sphinx in Haram, Avenue Mall in Obour City, Fairmont in Downtown, Suez, as well as branches of Kafr El-Sheikh, Damanhour, Benha, Zaqaziq and Port Said.

According to El-Fass, the bank offers many services and varied products through its branches, like wealth management for customers with high income, as well as Western Union services for money transfer.

She added that the banks in Egypt follow the instructions of the Central Bank of Egypt by opening new branches in all governorates, to encourage banking awareness, financial inclusion, and to encourage new categories of citizens to open bank accounts, whereby citizens with bank accounts do not exceed 10 million customers.

“The sector of retail banking is one of the most promising sectors in Egypt; the AAIB administration gives that sector a lot of attention. That important sector was developed, and its profitability was significantly increased in the past years as well. That sector is expected to grow at a faster pace in the next years,” according to Himanshu Shrimali, head of Retail LOB Division.

He added that the results are very satisfying, and prove the efficiency of the bank’s measures in choosing the areas of expansion.

According to Shrimali, the increase in the number of bank branches was accompanied by an increase in the number of ATMs, making them 321 by the end of the third quarter of 2015.

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