The National Bank of Egypt (NBE) has announced the inauguration of its first branch in Saudi Arabia, following the Saudi Central Bank’s approval for the bank to commence operations through its new branch in Riyadh.
Mohamed El-Etreby, Chairperson of NBE, said the opening of the Riyadh branch represents a key milestone in the bank’s strategy to expand its regional footprint and strengthen its international presence. He noted that Saudi authorities — including the Saudi Central Bank and other relevant government bodies — provided full support throughout the establishment process until the necessary licences were granted for the official launch.
El-Etreby highlighted that the Riyadh branch is equipped with the latest banking technologies and staffed with carefully selected and highly trained professionals to ensure the highest standards of service quality. He added that the branch’s design and interiors reflect NBE’s distinctive institutional identity.
He further explained that establishing a physical presence in Saudi Arabia aims to serve Egyptian and Saudi companies operating in the Kingdom, enhance bilateral cooperation, and support business expansion across various sectors. The new branch will offer a wide range of corporate banking and trade finance services to help clients achieve their financial and investment objectives.
