Khaled El Salawy Takes ABK – Egypt to the Pinnacle of Trusted Brands

The exceptional growth in the indicators of ABK- Egypt since its acquisition of piraeus Bank is evident, with its asset portfolio jumping 879.61% to reach EGP90.4 bn by the end of September 2023.

There has been significant expansion in providing Bank loans to customers, with the total loan portfolio increasing by 985.42% in record time.

The Bank has successfully gained the trust of a large segment of new customers since entering the Egyptian market, resulting in a rapid 798.92% increase in its deposit portfolio in a short period.

ABK-Egypt has transformed from incurring losses to achieving net profits in its first year in Egypt, posting historic quarterly profits in 2023.

First Bank highlights the key developments of ABK since entering the Egyptian banking market under the leadership of CEO and Managing Director Khaled El Salawy.

The Bank witnessed substantial expansion and a notable increase in its assets, growing from EGP 9.23 bn at the end of 2015 to EGP90.4 bn by the end of the third quarter of 2023, a growth rate of 879.61%.

The Bank has actively expanded its competitive credit products to attract diverse customer segments, resulting in a record growth of 985.42% in the total loans portfolio, reaching EGP43.29 bn by the end of the third quarter of 2023.

The strong growth in the Bank’s customer loans is attributed to significant financing for corporates, with the portfolio reaching EGP28.32 bn by the end of September 2023, compared to EGP2.7 bn at the end of 2015, a growth rate of 949.04%.

The increase in retail loans also contributed to the record growth in the total customer loan portfolio, reaching EGP14.97 bn by the end of September 2023, a growth of 1061.65% compared to the end of 2015.

ABk- Egypt has successfully attracted more customers by introducing distinctive savings products, resulting in a significant increase in the Bank’s customer deposit portfolio from EGP8.21 bn at the end of 2015 to EGP 73.78 bn by the end of the third quarter of 2023, a growth rate of 798.92%.

The Bank’s geographic expansion has led to the establishment of 45 branches in 18 governorates throughout Egypt, aligning with the Central Bank of Egypt’s initiative to provide easy banking services for customers with disabilities.

Khaled El Salawy, ABK- Egypt has undergone a radical transformation, turning from losses in 2015 to strong net profits of EGP 1.68 bn in 2022, the highest in six years.

In the current year, the Bank continues to achieve substantial net profits, recording EGP2.32 bn in the first nine months of 2023, a growth rate of 83.70%.

The Bank has also achieved significant improvements in the return on average assets and return on average equity, demonstrating its financial efficiency and innovation.

The international community has recognized ABK – Egypt’s success, with various awards, including the recognition as the fastest-growing Bank in Egypt for 2023 by the International Business Magazine.

 El Salawy has also been honored with the “Banker of the Year” award in 2017 by the Banker Middle East magazine, acknowledging his unique success journey with ABK- Egypt.

The bank aims to continue its growth, diversify banking services and products, increase customer loan portfolios for retail and corporates, and support small and medium-sized enterprises, while adhering to sustainable development standards.

ABK – Egypt is strategically implementing its digital transformation, keeping pace with technological advancements in the banking sector and focusing on providing innovative banking experiences to customers, with a clear emphasis on accelerating customer base growth.

The Bank remains committed to social initiatives, supporting various sectors of society through material assistance, donations, healthcare support, and contributions to child health, women empowerment, and support for people with disabilities.