(Ecofin Agency) - Before the end of 2019, National Bank of Egypt (NBE) could open 20 agencies dedicated to online banking exclusively. This decision was motivated by the bank’s will to catch up with digital evolution in the sector.

By the end of December 2017, NBE, the oldest bank in Egypt (created in June 1988) had about 430 agencies in the country as well as subsidiaries in South Africa, the United Arab Emirates, Ethiopia, New York and Shanghai.

According to Selon Hisham Okasha (photo), president of the state-owned bank, this project falls within the framework of the bank’s strategy for the development of tech infrastructures and systems.

"The agencies offering digital services will not replace classic agencies. It is a new way of offering banking services to clients interested in electronic and digital transactions”, M. Okasha said.

Chamberline Moko