National Bank of Egypt
National Bank of Egypt (NBE; Arabic: البنك الأهلي المصري) is a bank founded in Egypt in June 1898,[1] and is the country's largest bank (2013) in terms of assets, deposits, loans, bank-capital, number of total branches, and employees.[2]
This article is about a commercial bank. For Egypt's central bank, see Central Bank of Egypt.
NBE has 540 branches within the country, assets of £E 366,6 bn., total deposits of £E 312,7 bn., and total loans and advances of £E 114,7 bn.[3]
As of 2007, the National Bank of Egypt accounted for 23% of the Egyptian banking system's total assets, 25% of total deposits and 25% of total loans and advances. NBE also financed about 24% of Egypt's foreign trade during the year. NBE also accounts for 74% of the credit card market and 40% of the debit cards in Egypt.
According to the July 2007 issue of the Banker, in terms of total assets, NBE ranks 226th among the top 1000 world banks and ranks 3rd among the Arab banks.
History[edit]
19th century[edit]
During the 25th of June [4] 1898, Sir Ernest Cassel (50% ownership), the three brothers Joseph Suares (1837-1900), Raphael Suares (1846-1909) and Felix Isaac Suares (1844 - 1906),[5] Moise Cattaui (25%) and Constantine Salvagos of Alexandria (25%) established the National Bank of Egypt (NBE), though Cassel remained in England. NBE established an agency in London.
Overseas operations[edit]
NBE has one subsidiary external to Egypt, within London, Britain, the only subsidiary of the bank.[6]
United States operations of the bank,[2] commencing at some time during 2001,[4] are directed from within an office of [2] the Black Rock Building[7] located on 40 East, 52nd street of New York City [2]
Branches in New York and Shanghai, and representative offices in Johannesburg and Dubai