Bank of Alexandria
 | |
 New Borg El Arab city Branch | |
| Company type | Private |
|---|---|
| Website | www |
The Bank of Alexandria is one of the largest banks in Egypt, with 210 branches across the country.[1] It has a market share of almost 7% and had assets of 5.2 billion euros (US$6.5 billion) as of June 30, 2006. Intesa Sanpaolo is the major shareholder in the bank. It holds 70.25% of the bank shares, IFC holds 9.75% and the Egyptian Government holds 20%. Mahmoud Abdel Salam Omar, who is a former head of the Egyptian Banks Federation, is a former chairman of the bank.[2]
History
- In 1857 local Greek merchants established a Bank of Alexandria to cater to the needs of the Greek merchant community. This bank was liquidated in 1877.
- 1864 The English overseas bank, Anglo-Egyptian Bank was founded.
- 1924 Anglo Egyptian Bank merged with in 1918.
- 1957 The Egyptian government founded Bank of Alexandria to take over the Egyptian operations of Suez crisis.
- 1964 Bank of Alexandria acquired Banque du Nile and Import-Export Bank of Egypt.
- October 17, 2006 The Egyptian government privatized Bank of Alexandria. Sanpaolo IMI, the Italian bank which itself was acquired by Banca Intesa, agreed to pay $1.6 billion for 80% of Bank of Alexandria. This was the first privatization in Egypt of a fully government-owned bank.
See also
- Entrepreneurship Policies in Egypt
References
- ^ "Company Profile for Bank of Alexandria SAE". in reuters.com. Archived from the original on 18 January 2016. Retrieved 6 September 2012.
- ^ "Mahmoud Abdel Salam Omar". The San Francisco Chronicle. Retrieved 2020-06-26.[dead link]
- ISBN 0-8108-3173-2.
- ^ "London, Provincial and South Western Bank Ltd". Barclays Bank PLC. Retrieved 29 August 2015.