ALEXBANK named the Middle East’s Best Bank for SMEs by Euromoney
ALEXBANK has been named “Middle East’s Best Bank for SMEs” by pre-eminent international finance magazine Euromoney. The awards were presented last night at the 2016 Euromoney Middle East Awards for Excellence Dinner in Dubai.
In recognising ALEXBANK for the award Euromoney Editor Clive Horwood highlighted how “the bank has grown its SME portfolio by a remarkable 39% over the past year. Crucially, the bank decided to decentralise SME banking, launching 10 SME business centres. The move was important as so much of SME financing requires direct, personal contact with local business owners. The bank is working to automate and speed-up the credit process, increase financial awareness in the country, and introduced an online SME toolkit. If it continues this growth strategy next year, it will serve an even greater number of SMEs and support even more budding entrepreneurs, up and down the country”
“ALEXBANK since last year worked to improve its commercial proposition for the SMEs and this recognition comes at a very strategic timing, with the Egyptian competent regulatory bodies, pushing for pro-active development and expansion in the SMEs sector. We are strongly committed to deliver a full-fledged proposition for SMEs, both enhancing their prospects in accessing credit and other banking services, in addition to enhance their professional competitiveness through a dedicated bundle of value-added non-financial services. A core pillar of our strategy is to build the best SMEs customer experience supporting their affirmation and growth. We are honored that ALEXBANK’s SMEs Team is recognized for the efforts put during the last period,” stated Dante Campioni, CEO and Managing Director of ALEXBANK.
Regarded as the benchmark awards for financial services globally, the Euromoney Awards for Excellence are now in their 26th year. This year’s awards process, which began in April, attracted over 600 submissions from the world’s banks and brokerage houses. Euromoney’s dedicated research team and awards panel then rated all the submissions on both quantitative and qualitative factors such as KPIs, financial ratios and innovation over the 12 month period to decide the award winners.