البنك الأهلي المصري يقيم حفل افتتاح فرعه بالرياض

The National Bank of Egypt celebrated the opening of its first branch in the Kingdom of Saudi Arabia in the capital, Riyadh, which began actual operations on the sixteenth of October last month, following the bank's receipt of the Saudi Central Bank's (SAMA) approval to engage in banking activities in the Kingdom of Saudi Arabia.

The opening ceremony was attended by His Excellency Dr. Khalid bin Walid Al-Daher, Deputy Governor of the Saudi Central Bank (SAMA), Mohamed El-Etreby, CEO of the National Bank of Egypt, His Excellency Ihab Abou Sirri, Egypt's Ambassador to the Kingdom, as well as Suha Al-Turki and Yahya Abou Al-Fotouh, Deputy CEOs of the National Bank of Egypt, and Hisham Al-Safty, Executive Head of Financial Institutions and International Financial Services, along with specialized teams from the National Bank of Egypt.

During the opening ceremony, Mohamed El-Etreby confirmed that the opening of the National Bank of Egypt (Riyadh) is part of the bank's strategy to expand its services and enhance its international presence, culminating in the distinguished relations between the two countries. Egypt and Saudi Arabia share strong economic and investment partnerships, and the economic and investment cooperation between the two countries is witnessing significant development in all fields and levels.

Suha Al-Turki added that the bank's choice to establish a presence in the Kingdom of Saudi Arabia with the Riyadh branch is a natural extension of these distinguished relations, as Saudi Arabia is one of Egypt's largest economic partners and one of the largest Arab countries in terms of investment volume in Egypt, covering all productive and service sectors.

Al-Turki emphasized that the strategic presence of the National Bank of Egypt in Saudi Arabia greatly supports economic relations and investments between the two countries, based on the opportunities expected to be leveraged in the Saudi market, as these relations derive their strength from constants that have remained a fundamental pillar in enhancing the ties between the two countries.

Yahya Abou Al-Fotouh pointed out the application of the latest technologies in banking operations at the National Bank of Egypt in Riyadh, as well as the selection of the best human resources in the labor market, where these personnel have been trained to ensure the highest quality service standards that the bank will provide, in addition to maintaining the bank's distinguished corporate identity in all branch designs and furnishings.

Abou Al-Fotouh highlighted the bank's commitment to being present in the Kingdom by opening a branch aimed at serving Egyptian and Saudi companies operating in the Kingdom, especially in light of the mutual investments between Saudi Arabia and Egypt.

For his part, Hisham Al-Safty added that this branch is not only distinguished by its vital location but is also part of the National Bank of Egypt's vision for its strategic presence in the Arab region. It serves as a cornerstone for achieving consistency and harmony in the bank's policy aimed at expanding outside Egypt. Additionally, the services it will provide are not merely those of a traditional banking branch but a comprehensive center offering a variety of services that meet the needs of clients in the Kingdom through banking services provided to companies, in addition to trade financing operations. Through this branch, the bank aims to support investors from Egyptian, Saudi, and Arab companies to meet their banking requirements, expand the range of services, and establish a presence in new markets, as well as facilitate and enhance trade operations and inter-investments between Egypt and Saudi Arabia, which will contribute to strengthening the partnership between the two countries and providing various banking services to companies wishing to invest.