Tamer Seif El-Din succeeds in presenting the new aiBANK

A new journey of change started by Arab Investment Bank with acquisition of 76% of the bank’s capital by EFG-Hermes Holding Coalition, Sovereign Fund of Egypt, and amendment of the bank’s legal form to become an Egyptian joint stock company under the umbrella of Law 159 of 1981, declaring the beginning of a new era of progress, with Tamer Seif El-Din leadership.

Seif El-Din has a successfull portfolio of more than 22 years, derived from working in a number of banks, including National Societe Generale Bank in credit and marketing department, in 2004 he became an experienced relationship manager in the project financing and syndicated loans department at Misr International Bank, after moving to Abu Dhabi in 2006 to work at  Union National Bank as a director of  Industrial Corporate and Structural Finance Department.

During Seif El-Din's journey in banking, he joined Banque Misr and participated in transformation initiatives, culture change and new strategies. He also joined Alex bank from 2014 to 2021.

The last position he occupied before assuming the presidency of Arab Investment Bank was head of the corporate credit sector and investment banks, and a member of  Executive Committee of Alex bank, he participated in the remarkable growth of the bank in recent years.

Seif El-Din was able to prove the extent of his ingenuity and professionalism in leading Arab Investment bank. Although only a year has passed since he took over, he was able to achieve remarkable progress in the bank’s indicators, and lead it towards the lists of the fastest growing banks in Egypt, which is proved by the bank’s numbers, as it succeeded in transforming the bank from losses reaching EGP871.08 mn during 2021, to achieving net profits of EGP 525.6 mn during 2022.

He also strengthened the bank’s financial position and expanded its business volume, so that its asset portfolio jumped by 22%, to record EGP 55.4 bn by the end of 2022, compared to EGP 45.5 bn in December 2021.

Moreover, Saif El-Din significantly expanded the bank’s financing, whether for individuals or corporates, so that its total loan portfolio jumped by 84%, recording EGP20.9 bn at the end of 2022, compared to EGP11.3 bn at the end of 2021.

This increase was driven by the significant growth achieved by the bank in its financing portfolio for companies and corporates, as it rose to EGP 15.5 bn by the end of 2022, compared to EGP7.5 bn by the end of 2021, achieving a growth rate of 107%, leading Egyptian banks on First Bank list of the fastest growing banks in corporate loans over the past year.

The bank’s retail finance increased from EGP 3.8 bn at the end of 2021 to EGP 5.3 bn at the end of 2022, achieving a growth rate of 41% on an annual basis.

Tamer Seif El-Din attached great importance to supporting SMEs, which are considered a growth engine for the Egyptian economy. as it granted financing to SMEs reached EGP3.6 bn by the end of 2022, compared to EGP2.4 bn by the end of 2021.

In a short period, it succeeded in exceeding the target percentage according to the instructions of CBE, amounting to 25% of total loans and facilities in the bank, as the bank was able to achieve a percentage of about 27.8%, 12.5% ​​is directed to small projects only.

Seif El-Din was also able to attract new customers to the bank, which is proved by the growth of the bank’s customers’ deposit portfolio by 24% by the end of 2022, to record EGP48.2 bn, compared to EGP 38.7 bn by the end of 2021.

Tamer Seif El-Din realizes the importance of strengthening the bank's geographical presence, and therefore he adopts an ambitious plan to achieve the best geographical coverage to meet the needs of the largest number of customers in various sectors, through his expansion plan, to strengthen the bank's presence in the Egyptian banking market and increase its branches in Cairo, Delta, and Upper Egypt.

It also works on spreading and modernizing ATM network, in addition to providing machines for people with disabilities through its branches.

Seif Al-Din did not neglect the importance of environmental issues, as the bank puts it on top of its priorities, as it issued the first report to measure the carbon footprint of its headquarters during the year 2022, to reduce carbon emissions in order to preserve the environment and spread this culture in society as a whole.

He also participated in supporting national initiative for smart green projects in the various governorates of Egypt, in light of COP 27 conference.