20 February 2012
ABC Group subsidiary Arab Banking Corporation Egypt is targeting tripling its market share in Egypt to 3% within three years, chief executive and managing director Akram Yousef Abdul Karim Tinawi told Zawya.
The Cairo-based and listed lender will expand investment banking activity and introduce new retail banking products which will be offered through five new branches to be opened till 2015. It will also increase its share in financing government projects, the chief executive said, adding that the bank is considering offering Islamic finance solutions.
ABC Bank-Egypt's revenues fell marginally to EGP 198.37 million at the end of 2010 from EGP 202.39 million in the previous year. Net profit declined 38% to EGP 29.42 million, according to Zawya data. The lender has not yet disclosed its financial results for 2011.
Zawya 2012
ABC Group subsidiary Arab Banking Corporation Egypt is targeting tripling its market share in Egypt to 3% within three years, chief executive and managing director Akram Yousef Abdul Karim Tinawi told Zawya.
The Cairo-based and listed lender will expand investment banking activity and introduce new retail banking products which will be offered through five new branches to be opened till 2015. It will also increase its share in financing government projects, the chief executive said, adding that the bank is considering offering Islamic finance solutions.
ABC Bank-Egypt's revenues fell marginally to EGP 198.37 million at the end of 2010 from EGP 202.39 million in the previous year. Net profit declined 38% to EGP 29.42 million, according to Zawya data. The lender has not yet disclosed its financial results for 2011.
Zawya 2012
