The Banker — an international financial publication — awarded Ahli United Bank – Egypt (AUBE) the country’s Bank of the Year Award for 2022 in a ceremony held in London on 1 December.
The award is a testament to the bank’s efforts to harness the quality of services provided and innovative solutions with unique value propositions for corporate and retail clients that differentiate the bank from its competitors. The award also reflects on the AUBE’s leading role in the Egyptian banking sector and its ability to leverage advanced technology and data.
“The award was granted to the bank in acknowledgment of its successful strategy, remarkable business results, and distinctive Transformation Plan during the year. This is a true reflection of the immense efforts exerted by everyone at AUBE to achieve such a milestone and the persistence to introduce world class products and services’ that meet clients’ needs,” said CEO of AUBE Hala Sadek.
She also highlighted that receiving this prestigious award motivated the bank’s staff to achieve further progress in developing various solutions to sustain its leadership in the Egyptian market.
AUBE accelerated its transformation plan by offering cutting-edge and time-saving solutions for its customers. This is adjoined with real-time payment and collection services through advanced platforms, such as the B2B Corporate Digital Platform, which was recently upgraded to allow corporate clients to efficiently manage their cash flow remotely with seamless execution. At the same time, it continues to offer new solutions for retail clients, like obtaining a new account number through the e-account service to enjoy a top-notch customer experience.
Hala added that the digital evolution achieved by the bank coincided with the rapidly growing fintech industry in Egypt, which indicates significant opportunities for the country. The bank is also continuing its support to various economic sectors with a particular focus on the manufacturing sector to steer economic development ahead amid a challenging business environment.
The Bank of the Year Award is one of most prestigious awards offered by The Banker — a globally recognized publication in the banking sector. This award is considered a testimony granted by an international independent publication.
The award ceremony was held in London on 1 December, witnessing the attendance of more than 350 chairpersons, CEOs, and senior executives in the banking sector from more than 120 countries.
This also considered the largest iteration of the event, bringing together C-suite officials and delegates of financial and economic institutions outside of the IMF and World Bank’s meetings.
Back to the AUBE, the bank’s net profits recorded a 74% surge since the beginning of this year till September, amounting to EGP 1.4bn, compared to the EGP 814.2m reached in the corresponding period in 2021.
This surge was driven by the operating income growth that was achieved through diversifying the banking services and products offered to the clients, along with a 28% hike in the net value of loans and credit facilities. Furthermore, the customer deposit portfolio recorded a 24.5% growth.