Societe Arabe Internationale de Banque (SAIB) launched its new brand, enhancing the bank’s identity and mental image among customers, and supporting expansion plans for the current board of directors.
Tarek El-Kholy, chairperson and managing director of SAIB, said that the identity and the new brand reflects the bank’s core values of unity, trustworthiness, strength, and stability.
He stressed that the bank is taking multiple steps that would enhance its position in the local market, achieve the targeted expansion, expand strongly in the service of citizens, and consolidate the idea of financial inclusion in the Egyptian community.
It is noteworthy that the development of the bank’s brand has become necessary to reflect the new strategy adopted by the bank, with the appointment of the current leadership, especially that SAIB is currently one of the most important banks operating in the Egyptian market, and that its brand is the main sponsor of the Egyptian Football League.
SAIB is the first Arab joint bank operating in Egypt in accordance with the provisions of the Investment Law No. 43 of 1974, where the bank was established on 21 March 1976, before being amended under the Investment Law No. 1989/230 and 1997/8.
The issued and paid-up capital of the bank has evolved from $4m in 1978, to $150m, distributed over 15 million shares, with a nominal value of $10 each. The bank’s authorized capital is $200m.
The bank manages a deposit portfolio estimated at $4.261bn, while the volume of loans and credit facilities amounted to $1.471bn.
Since its establishment in 1976, SAIB Bank has made remarkable progress in building its services for individuals and companies, diversifying its portfolio by responding to the requirements of companies in Egypt.
The bank is currently operating according to a long-term strategy that aims to diversif all banking services, increasing its market share, maintaining a balanced growth in terms of loans and deposits and achieving high efficiency, in addition to maintaining excellent asset quality and a capital adequacy ratio.