National Bank of Egypt

Egypt
Africa & Middle East

http://www.nbe.com.eg/

Industry:Banking
Date joined:14 February, 2022
Initiatives:Principles for Responsible Banking

Brief Overview of Organization

Established on June 25, 1898, the National Bank of Egypt is the first and largest commercial bank in the Egyptian banking sector with a paid-up capital of EGP 50 bn. The bank has the largest widespread network of branches and outlets with 584 branches and captures the largest 24/7 ATM network. The terminals provide a variety of services including withdrawals, cashing salaries, cash deposits, payments, invoices, donations and account inquiries and they further comprise POS terminals. There are over 22,000 employees who skillfully stand behind the bank’s extensive operations. These resources enable NBE to broaden its reach and bolster its impact in society.

For more than a century, NBE has played a pivotal role in the banking sector in particular and the national economy at large, by carrying out the role of the Central Bank of Egypt and through its customary banking services as a commercial bank until 1950. After the nationalization of NBE in 1960, the bank purely became a commercial bank but it continued performing the functions of the Central Bank in areas where the latter had no branches.

NBE enjoys a substantial international rank, as reflected through its presence in London (NBE United Kingdom Limited), Khartoum (NBE Khartoum) and its branches in New York and Shanghai and also Juba and AI Riyadh branches that will open soon. The bank has  representative offices in Johannesburg, Addis Ababa, and Dubai. This is in addition to a vast correspondent bank network around the globe (Europe, USA, Australia, Canada, the Far East, Africa, and the Arabian Gulf).

NBE boasts the highest financial results in the Egyptian banking market for several years running. This outstanding performance attests to the bank’s crucial contribution and cardinal function in society.

Thereby, NBE has continuously proven its commitment to enhancing the lives of Egyptians. As one of Egypt’s top contributors to social responsibility, NBE demonstrated its unwavering support and pioneering role in financing healthcare, education, and economic projects that directly impact the living conditions of Egyptian citizens.

As a foundational financial institution in society, NBE proudly continues to uphold its stalwart function in the national economy and consistent support of the Egyptian people.

The strategy of the National Bank of Egypt aims at introducing a new generation of branches which offer fully electronic banking services through alternative channels to promote self-service and achieve the bank’s digital transformation plans. In addition, this new type of branch raises awareness and strengthens digital banking, especially in light of the current circumstances that call for enhancing safety measures and maintaining social distancing to protect public health. The number of electronic service branches, which were launched for the first time in Egypt by NBE in early 2019, has currently reached 34 branches. Furthermore, NBE’s network now proudly includes more than 55 branches that are qualified to welcome and serve customers in sign language, which was achieved by training more than 250 employees. NBE also provides more than 43 ATMs for people with special needs and 101 ATMs for visually impaired customers, while planning to expand these machines in all its branches. On another note, NBE operates more than 38 branches via solar energy.

NBE introduced the first mobile bus branch in Egypt and the Middle East, which aims at increasing accessibility of banking services to some areas, while also offering electronic banking services. This new type of branch reinforces NBE’s strong commitment to financial inclusion and digitalization.