By The largest banks in Egypt provide a wide range of services that can be utilized by the public to meet transactional needs and apply for loans according to established requirements.
Egypt is one of the countries that has implemented Shariah banking, so its operations adhere to regulated systems.
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Egypt also has many banks, both state-owned and private, operating under the guidance of the central bank. The presence of numerous banks in Egypt undoubtedly benefits the country in terms of economic growth and various other advantages.
Largest Banks in Egypt
1. National Societe Generale Bank (NSGB)
Established in 1978 as one of the largest private banks in Egypt, NSGB traditionally focuses on corporate banking with large clients. It was established by Societe Generale, one of the largest banks in Europe, as well as a national bank in Egypt.
NSGB requires strong time attendance and access control systems to serve over 3,000 users and offer options for future capacity enhancement. Thus, it has many branches throughout Egypt connected through multiple locations.
QNB Group officially announced its successful acquisition of a majority stake in NSGB Egypt, with a final share percentage of 97.12%, including Societe Generale’s total ownership of 77.17% and 19.95% through a mandatory tender offer.
NSGB is the second-largest private bank in Egypt, with 160 branches nationwide and over 4,500 employees supporting its operations and contributing to the advancement of Egypt’s economy.
2. HSBC Bank
HSBC is one of the world’s largest banking groups, ranking sixth in the world by Forbes based on combined size. Initially operating in Asia, the group expanded globally to meet various customer needs such as investments, financial loans, savings, and insurance.
HSBC, originally from the UK with headquarters in London, has a multinational footprint and is the largest bank based in Europe by total assets. Despite previous controversies and fines for money laundering, HSBC has expanded its branches in Egypt to meet the transactional needs of the Egyptian population.
Its operations in Egypt comply with Shariah banking principles. HSBC Egypt serves hundreds of people through its strong network of over 40 branches spread across Egypt, ensuring complete system security to address users’ demands for a safer banking system.
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3. National Bank of Egypt (NBE)
Established in June 1898, NBE is one of Egypt’s largest banks based on assets, loans, deposits, branch numbers, bank capital, and employed personnel, with 540 branches nationwide.
In 2007, NBE contributed 23% of Egypt’s total banking system assets, 25% of total loans and advances, and 25% of total deposits, financing approximately 24% of Egypt’s foreign trade. It dominates 74% of the credit card market and 40% of the debit card market in Egypt.
NBE’s total assets rank it 226th among the top 1,000 banks worldwide and third among Arab banks. It has one subsidiary outside Egypt, in London, UK, and began operations in the United States in 2001, specifically in New York City.
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4. Banque Misr
Established in 1920 by industrialist Joseph Aslan Cattaui Pasha and economist Talaat Harb Pasha, Banque Misr was nationalized by the Arab Republic in 1960. It has branches throughout Egypt, including currency exchange offices and work permits for foreign workers in Egypt.
In 1994, an investment management financing administration was established to expand the bank’s offerings with a focus on flexibility and low cost.
Banque Misr also manages individual, corporate, and institutional investments for short or long-terms with eight investment funds. It has received regional awards two years in a row.
5. Banque du Caire
Established in 1952, Banque du Caire provides various services and products for corporate and retail segments.
It aims to institutionalize microfinance throughout the banking sector to promote financial inclusion in Egypt.
The bank offers digital banking frameworks to retail and corporate clients and launched a corporate leasing initiative in 2018. Banque du Caire provides access to COMESA markets through Cairo International Bank, its subsidiary in Uganda, and operates representative offices in the UAE.
With over 240 branches and 1,046 ATMs across Egypt, it serves more than 3.5 million clients.
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Banque du Caire also approved the establishment of a BCA branch in the UAE in 2019, becoming the central bank of the United Arab Emirates.
