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Contact center
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Working Hours |
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From 8:00 AM till 3:00 PM.
Branches are open until
5:00 PM |
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IFC bought 9.75% stake in BA |
| In March 2009, the IFC invested US$ 200m equal (39m shares) for EGP28.38 per share.This provesthat BA is still the trump card to lure foreign investments to theEgyptianmarket.Consequently,the Bank's shareholdingstructure is divided among INTESA SANPAOLO (70.25%),the Egyptian government (20%)and the IFC (9.75%).The equity investment is IFC's largest in Egypt and its second-largest globally. |
The Fruits of the Deal |
| Mr Mahmoud Abdel Latif, Chairman of Bank of Alexandria said that this deal will boost the Bank's competitive capabilities as regard the long-term finance such as mortgage finance. The deal will also help in placing the Bank on a higher level regarding SMEs and microfinance. |
| BA's total retail loans increased by more than 60% in 2008, compared to 2007, while micro-loans increased by 41%. | |
| IFC's Role in Egypt |
IFC, a member of the World Bank, has a number of investments in the Egyptian financial sector. It owns shares in many companies in the field of Mortgage Finance, financial leasing, export factoring and a number of banks operating in Egypt.
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