Tarek ELKhouly leads «saib» to achieve record high net profits during his tenure
Societe Arabe Internationale de Banque (SAIB) is considered to be one of the most distinguished banking experiences in the Egyptian banking sector, mainly after succeeding as the first joint Arab bank to operate in the local sector and open the door wide for other Arab banks to expand into the Egypt.
SAIB succeeded in becoming one of the most important banks operating in the Egyptian market over the past years; under Tarek El-Khouly leadership who achieve the targeted expansion, expand strongly in the technology infrastructure, and enhance the competitiveness of its products.
The bank has been led by many banking personalities since its establishment on March 21, 1976, and one of the most prominent banking institutions, led by Tarek Elkholy, who began his journey with SAIB since August 2018, intending to start a new phase of development for the bank.
EEl Kholy, has more than 35 years’ of extensive experience in the Banking and Finance industry, and diversed between supervision and practice. His long career was full of accomplishments, as he spent nearly four decades working in commercial banks during which he held many commanding posts. He then worked in the Central Bank of Egypt, until he was chosen to assume the position of Chairman and Managing Director of the SAIB.
Digital transformation was one of the pillars of El Khouly’s development strategy
El Khouly was keen on developing the bank’s digital infrastructure giving special attention to digital transformation which was translated by his tireless efforts and innovative strategies. He launched the e-payment bracelet for credit cards and debit cards while developing advanced methods for leading banking services. SAIB has developed a first of its kind protection system –in-cooperation with MasterCard, which gives the ability to create a username and password each time the customer uses it online. It was also launched for specific financial and non-financial transactions and its holder will be administered an additional layer of security in the form of One time password. The transaction will be submitted for processing only When you enter the onetime password.
Furthermore, amid the corona-virus pandemic in September 2020, SAIB has launched the latest generation of ATMs in cooperation with Diebold Nixdorf for the first time in the Egyptian market, in cooperation with Raya Information Technology Company.
This resulted in attracting record number of customers to the SAIB’s client base, which enabled the bank to achieve record profitability indicators under the leadership of El kholy, as he led the bank to shift from losses of $7.5 million in 2018 to net profits of $19.93 million in 2021.
