ABC Bank Egypt announced the successful completion of its merger with BLOM Bank Egypt, marking the start of a new phase of growth for the bank. This historic merger of ABC Bank will result in a three-fold growth in its market share in Egypt and will combine the best of the two leading banks under a new banking entity that provides a unique banking experience to its customers.
Commenting on this achievement, His Excellency Mr. Al-Siddiq Omar Al-Kabir, Chairman of the Board of Directors of ABC Bank Group, said: “I extend my sincere thanks and appreciation to everyone who contributed to the success of this merger. I would especially like to thank the Central Bank of Egypt for providing advice, assistance and support.” “I would also like to thank our employees for their dedication and hard work, which has enabled the group to grow its presence in this important regional market.”
For his part, Mr. Sael Al-Waari, Group CEO of ABC Bank, said: “Unified Bank is now ready to grow, innovate and provide a unique banking experience. Through our combined experience and future vision, we are fully prepared to serve our customers better. I would like to seize this opportunity.” I would like to thank all our customers who trusted us during this stage, in addition to every member of the unified Bank ABC team for their effort and dedication to work to complete this important stage for the Bank ABC Group.”
Since the completion of the legal merger in January 2023, an integrated and detailed program has been implemented to complete the complete merger of all businesses and sectors, review all systems, and test the operational infrastructure of both banks in an effort to preserve the best of what they offer, and in order to create stronger competitive value and provide better solutions to customers. The merger doubled the network of branches and ATMs of Bank ABC Egypt, so that it now includes the best services of the two banks under a unified banking entity characterized by competitiveness and diversity.
On the other hand, Mr. Amr Tharwat, Managing Director and CEO of ABC Bank Egypt, said: “With the final completion of the merger, we intend to fulfill our promise to create the best possible banking experience for our customers. We now aspire to set new standards for banking services in Egypt, starting with “Launching a mobile application for our individual customers, along with leading digital platforms for trade and cash management services for businesses. I am very proud of the bank’s team who exerted their utmost efforts to achieve this achievement, which paves the way for achieving Bank ABC Egypt’s future ambitions.”
It is worth noting that the headquarters of the ABC Bank Group is located in the Kingdom of Bahrain, and the group has an international banking network extending across five continents to provide banking services to clients, whether individuals or companies.
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