ALEXBANK named the Middle East's Best Bank for SMEs by Euromoney for the Second Year in a Row
Cairo-May 22nd, 2017- ALEXBANK has been named “Middle East’s Best Bank for SMEs” by pre-eminent international finance magazine Euromoney for the second year in a row, in recognition of ALEXBANK’s continued efforts in improving its services to SMEs.
The award presented by Euromoney, the most prominent international magazine in assessing banks and financial institutions’ performance, reflects ALEXBANK's leadership in delivering a full-fledged service proposition to SMEs. Euromoney award for the second consecutive year, recognizes ALEXBANK for achieving a quantum leap in its services to SMEs by launching its “Business Passport” a new concept of amenities added to the traditional financial services offer. The Business Passport facilitates the access to a series of Value Added Services provided through third parties exclusive agreements, able to directly support SMEs business development. Highly recognized were also the efforts exerted by Alexbank in developing a new process able to drastically reduce the time to market response for credit application stemming from small enterprises.
The editor of Euromoney, Clive Horwood, stated “ALEXBANK is working proactively to develop its place in an SME market of huge challenges and opportunities. It was a year of strong growth for its SME loan book in 2016, in part thanks to drastically reduced loan processing periods, now down sometimes to only three days”
“We are delighted to receive this award for the second consecutive year, as it gives recognition to ALEXBANK strong commitment to support the Egyptian SMEs whose development represent a major priority for the Egyptian Authorities.” said Dante Campioni, Managing Director & CEO of ALEXBANK.
“The bank’s strategy focuses on delivering a full-fledged proposition to SMEs, providing integrated solutions for these enterprises, able to enhance their prospects in accessing credit and all the banking services, in addition to a bundle of value added non-financial services capable to enhance their efficiency and competitiveness. This highlights the bank’s determination to provide unique banking experience to this important segment of enterprises, one of the main pillars of Egypt’s economy,” he added.
The Euromoney Awards for Excellence are considered as one of the most important awards that evaluate financial services worldwide. These awards are granted through a panel and dedicated research team that rate all the submissions via a number of quantitative and qualitative factors such as KPIs, financial ratios and innovation over the 12-month period.