Bank ABC Egypt and BLOM Bank Egypt will operate as two independent subsidiaries of Bank ABC Group immediately following the 11 August 2021 acquisition. This means that customers will see no change in how they bank. Following a legal merger and full business integration (End of 2023) the two banks will combine.
Bank ABC is deeply familiar with Egypt, having entered the market more than with 20 years ago. Bank ABC has acquired BLOM Bank Egypt, and is set to give customers access to more banking products and services (including a range of digital banking services) and the ease and convenience of additional branches.
Bank ABC Egypt customers:
Bank ABC Egypt customers will see no disruptions to their banking services; business as usual will continue.
Following the full integration of BLOM Bank Egypt into Bank ABC Egypt, customers will enjoy more than double the number of retail branches and enhanced digital banking.
BLOM Bank Egypt customers:
Customers will have no interruptions to their banking. Business will continue as usual as we work towards the full integration of BLOM Bank Egypt into Bank ABC Egypt.
We aim to provide customers with better banking services through Bank ABC’s advanced digital and mobile capabilities.
Customers will enjoy access to more branch locations, a wider variety of banking products and services, and stronger connections to international banking via Bank ABC’s global brand.
Bank ABC is focused on our reputation as MENA’s leading international bank; strengthening our market presence and growing returns in tandem. The BLOM Bank Egypt acquisition is the perfect strategic fit for these objectives, expanding Bank ABC’s presence in a deep and relatively underbanked market with significant growth opportunities.
Growing Bank ABC's footprint in Egypt—a deep and high-potential market—will deliver returns and drive forward the Bank’s growth across the MENA region.
Leveraging the legacy and market presence of Bank ABC and BLOM Bank Egypt, the acquisition will more than triple Bank ABC’s market share and create a new platform to turbocharge growth.
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