National Bank of Kuwait (Egypt)
 | |
 Headquarters in Cairo | |
| Type | Subsidiary |
|---|---|
| EGX: NBKE | |
| ISIN | EGS60171C013 |
| Industry | Banking |
| Predecessor | Al Watany Bank |
| Founded | 1 May 1980 |
| Headquarters | , |
Number of locations | 53 (2025) |
| Key people | Shaikha Khaled Al-Bahar (Chairman) Yasser Abd El-Koddous El-Tayeb (CEO) |
| Products | Financial services |
| Revenue | EGP 8 billions (2025) (USD 153 millions)[1] |
| EGP 13,7 billions (2025) (USD 259 millions)[1] | |
| Total assets | EGP 224 billions (2025) (USD 4,26 billions)[1] |
| Total equity | EGP 30,2 billions (2025) (USD 570 millions)[1] |
Number of employees | 2051 (2025) |
| Parent | National Bank of Kuwait |
| Website | www |
The National Bank of Kuwait (Egypt)[2] is a medium-sized Egyptian bank, and a subsidiary of the National Bank of Kuwait.[3]
History
In May 1980 Al Watany Bank of Egypt was founded by several Egyptian businessmen as a joint Stock Company under the provisions of Law 43/1974 with two branches in Cairo.[4] It grew in a promising economy and gradually established a reputation as the leading bank for small and medium-size businesses within the Egyptian market.[4]
In August 2007, the National Bank of Kuwait (NBK) acquired a 51% stake in Al Watany for US $516 million.[5][6] The offer was extended to other shareholders and by October 2007, the National Bank of Kuwait had acquired a total of 93.77% stake in the bank for a cost of over US $900 million by October 2007.[6] The purchase marked the entry of the National Bank of Kuwait into the Egyptian market for the first time and represented a significant stage in the bank's strategy of expansion in the region.[7] The bank intended to triple the number of branches in five years and turn Al Watany into Egypt's third largest retail bank.[8]
The Al Watany Bank of Egypt made a net profit of 243.6 million Egyptian pounds (US $44.5 million) in 2007, a 157% increase compared to 2006.[9][10] It posted a profit of 290.6 million Egyptian pounds for the first nine months of 2008, a 29.2 percent growth compared to the same period in the previous year.[11] Its assets were valued at 14.6025 billion Egyptian pounds at the end of the third quarter of 2008.[11]
The bank's authorized and paid capital was 1 billion Egyptian Pounds distributed on 100 million shares with a par value of 10 Egyptian Pounds each. It has 41 branches located across Egypt from Cairo and Alexandria to Giza, Mansoura and Sohag.
See also
References
- 1 2 3 4 "Financial Statements For The Financial year".
- ↑ McGrath, Maggie (2026-01-22). "Forbes 50 Over 50 Global 2026: conoce a las principales mujeres líderes, creativas e innovadoras del mundo". Forbes (in Spanish).
- ↑ "WATA Profile & Executives - El Watany Bank of Egypt". Bloomberg.
- 1 2 Sherman, William (4 February 2003). "Staying The Course". The America's Intelligence Wire.(registration required)
- ↑ "NBK wins bid for Egypt's Al-Watany Bank" (Press release). NBK Press Office. 15 August 2007. Archived from the original on 23 August 2007.
- 1 2 "Kuwait's NBK acquires 93.77 % of Egypt's AlWatany Bank". Middle East Times. News World Communications Inc. 29 October 2007. Archived from the original on 14 February 2008.
- ↑ Bowman, Joel (2 April 2008). "NBK buys Al Watany Bank of Egypt". Arabian Business. ITP DIGITAL. Archived from the original on 5 June 2008.
- ↑ "National Bank enters Cairo: Al-Watany acquisition will pave the way for expansion in retail sector". Middle East Economic Digest. 7 August 2007.(registration required)
- ↑ "Egypt's Al Watany Bank 2007 net profit rises 157 pct". Reuters. 11 March 2008.
- ↑ Hadfield, Will (11 March 2008). "Al-Watany Bank's profits jump 157 per cent". Middle East Business Intelligence. Emap.
- 1 2 "Watany Bank of Egypt posted 290.6 mln in profit up to Q3 of 2008". ArabFinance. 9 November 2008.