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NBE retail sector clients amounted to 7.1 million at end of March 2017 - Daily News Egypt

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NBE retail sector clients amounted to 7.1 million at end of March 2017

Retail sector deposits reach EGP 798bn, retail loans increased to EGP 41bn


The number of retail sector clients at the National Bank of Egypt (NBE) reached 7.1 million at the end of March 2017, according to the latest indicators.

The bank noted that its portfolio of retail deposits reached EGP 798bn at the end of March, while loans for the same sector amounted to EGP 41bn.

The Asian Banker Foundation has recently awarded the NBE the Best Egyptian Retail Bank award for 2017.

Chief of the representation office of the NBE in the United Arab Emirates (UAE), Tarek El-Ghazaly, received the award during the ceremony hosted by Asian Banker in Dubai.

According to the bank, the award is given to the best bank in all of the covered countries, based on the size and development of retail banking products, along with the number of branches and their reach.

The assessment also includes the size of the retail banking portfolio in the field of deposits and loans, retail products, card types, growth rates, quality of service in branches, number of internet banking products, and services provided via ATMs and points of sale (POS).

According to the bank, the number of debit cards issued amounted to 3.6 million, next to 3.4 million salary cards, 850,000 pre-paid cards, and 905,000 credit cards.

The number of branches at the end of March 2017 reached 388 branches and 3,300 ATMs for cash operations. The number of POS locations reached 13,300.

NBE is also set to begin the pilot phase of the Interactive Teller Machine (ITM), which can provide many banking services to clients throughout the day through multimedia communication.

Moreover, phone cash services have now reached over 911,000 clients.

The NBE also provides services for transferring remittances via mobile phones. The money can be sent and received in one moment and disbursed via the ATM network. The bank grants its clients a prepaid remittances card to be used for withdrawing funds from ATMs. The same card can also be used for purchases and online shopping.

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