ABK - Egypt sponsors the 64th Kuwait National Day celebrations in Egypt to Foster Bilateral Cooperation
In line with ongoing efforts to support the Egyptian-Kuwaiti relations, Al Ahli Bank of Kuwait - Egypt (ABK-Egypt) participated in the event celebrating the 64th Kuwait National Day and the 34th Anniversary of Liberation held in the Nile Ritz-Carlton Hotel in Cairo. The event was organized by the Kuwaiti embassy in Cairo and hosted by Kuwait’s Ambassador to Egypt Ghanim Al-Ghanim, in the presence of Egyptian and Kuwaiti ministers and diplomats as well as representatives from Kuwaiti public and private institutions, business communities, banks and large companies working in various sectors in both countries.
ABK-Egypt expressed its delight in taking part in this high-profile celebration that enhance and strengthens the bond between the two countries through shedding the light on the great developments achieved by Kuwaiti organizations operating in Egypt and positively accelerating the growth of our economy.
It is worth mentioning that ABK-Egypt has delivered record financial results for the fiscal year ended 31 December 2024, underscoring its robust business growth, and expanding customer base. The Bank achieved a remarkable 137% increase in Net Profit in 2024, reaching EGP 6.6 billion, compared to EGP 2.8 billion in 2023. Net Interest Income reached EGP 6.5 billion compared to EGP 4.1 billion in 2023, reflecting an increase of 59%, while Net Income from Fees & Commissions surged by 23.7% to reach EGP 1.5 billion compared to EGP 1.2 billion at the end of 2023. Profit Before Tax recorded EGP 8 billion, a growth rate of 111.7% compared to EGP 3.8 billion in 2023, reflecting the Bank’s strong financial performance and strategic execution.
