Bank of Alexandria - BA in Egypt Business Directory

Was established in 1957 as an Egyptian joint stock company. Was privatized on 17/10/2006 via selling 80% of its shares to the Italian group Sanpaolo. The sale deal was concluded so successfully that it was described as the best privatization process in Egypt. Is mainly owned by Intesa Sanpaolo group which was created via the merger of the two financial Italian groups : Banca Intesa and Sanpaolo IMI. Is now operating under the leadership of Intesa Sanpaolo which is the biggest Italian bank and the third in the Euro Zone. Launched an ambitious development strategy to move in line with Intesa Sanpaolos innovated systems and mechanisms. Such strategy includes developing the banking operations and offering new products and services that suit all customers. New employees with international experience in various fields joined the Bank so that the three coming years may view the birth of a banking giant in the Egyptian market. This entity is to have historical roots in addition to adopting modern techniques. Has a country-wide network of 207 units serving 1.5 million customers. Adopts local expansionary plans so that the number of its banking units is to reach 350; thus doubling the Banks market share and hence its balance sheet. Plans to expand regionally in the Gulf Region and North Africa and internationally via opening branches in Italy.

Website: http://www.alexbank.com/