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Arab Banking Corporation – Egypt achieves its highest ever net profit for the year ending December 2013 at a remarkable growth of 119.5%
27/04/2014
 

ABCE held its Annual General Meeting on 27th April 2014. The Chairman of the Board of Directors, Dr. Khaled Kawan, shared an update on the Bank’s performance during the ongoing economic and political challenges facing the country. ABCE has recorded its highest ever net profit for the year ending December 2013. In fact, the Bank achieved a net profit of EGP 96.6m compared to EGP 44m in 2012 – a remarkable growth of 119.5%.

The AGM also approved the appointment of two new Board members, Dr. Yousef Al-Awadi who is a member of the ABC Group Board and Mr. Hossam Abdel Wahab, ABCE’s Retail Head. The AGM also noted future expansion plans of ABCE including the addition of 2 branches to its network.

Dr. Kawan also invited the AGM to approve the donation of EGP 1.9m to support the Federation of Egyptian Banks in the project they engaged in with the Egyptian Government to finance infra-structure in under-developed areas in the country. This is part of the ABCE growing Corporate Social Responsibility activity.

Finally, Dr. Kawan seized this opportunity to thank the Bank’s Members of the Board of Directors, its management and staff for this unprecedented performance.

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