National Bank of Egypt (NBE; Arabic: البنك الأهلي المصري) is a bank founded in Egypt in June 1898,[1] and is the country's largest bank (2013) in terms of assets, deposits, loans, bank-capital, number of total branches, and employees.[2]
NBE has 540 branches within the country, assets of £E 366,6 bn., total deposits of £E 312,7 bn., and total loans and advances of £E 114,7 bn.[3]
As of 2007, the National Bank of Egypt accounted for 23% of the Egyptian banking system's total assets, 25% of total deposits and 25% of total loans and advances. NBE also financed about 24% of Egypt's foreign trade during the year. NBE also accounts for 74% of the credit card market and 40% of the debit cards in Egypt.
According to the July 2007 issue of the Banker, in terms of total assets, NBE ranks 226th among the top 1000 world banks and ranks 3rd among the Arab banks.[citation needed]
History
19th century
During the 25th of June [4] 1898, Sir Ernest Cassel (50% ownership), the three brothers Joseph Suares (1837-1900), Raphael Suares (1846-1909) and Felix Isaac Suares (1844 - 1906),[5] Moise Cattaui (25%) and Constantine Salvagos of Alexandria (25%) established the National Bank of Egypt (NBE), though Cassel remained in England. NBE established an agency in London.
Share certificate of the National Bank of Egypt, issued 17 April 1899Advertisement for the National Bank of Egypt, showing its Cairo headquarters before reconstruction in the late 1940sNew Borg El Arab city Branch
20th century
1901 NBE opened a branch in Khartoum. It obtained a privileged position as banker to and for the government and acted as the semi-official central bank. Over time, it added further agencies and branches in the Sudan.
1902 NBE established the Agricultural Bank of Egypt.
1906 NBE established the Bank of Abyssinia in Addis Ababa. The bank received a 50-year monopoly and was the Ethiopian government's fiscal agent as well as the sole issuer of currency.
1976 NBE, together with 19 other Arab and four US banks, established Arab American Bank as a wholesale bank operating in New York.
1982 NBE established a subsidiary in the UK.
1987 Chase sold its shares in CIB to NBE and CIB changed its name to Commercial International Bank, SAE. Partial privatization in 1993 and a GDR issue in 1996 reduced NBE's share to 34%. NBE established a rep office in South Africa and a banking subsidiary in London, which took over the assets and operations of NBE's previous subsidiary and its by then two branches there.
21st century
2000 NBE established a NY branch to take over the business of Arab American Bank.
2005 NBE acquired Mohandes Bank, which had been established in 1979 as a commercial bank. It also acquired Bank of Commerce and Development, known as "Al Tigaryoon".
2006 NBE opened a representative office in Dubai.
2008 NBE upgraded its representative office in Shanghai into a branch.
Overseas operations
NBE has one subsidiary external to Egypt, within London, Britain, the only subsidiary of the bank.[6]
