In March 2006, Bank Audi sal acquired the “Cairo Far East Bank sae”, an Egyptian bank with a network of 3 Commercial Banking branches and one Islamic Banking branch. The latter’s name was subsequently changed to Bank Audi sae, a fully-owned subsidiary of Bank Audi sal with a capital of US$ 100 million.
Bank Audi sae’s action plan hinges mainly on the development of Commercial and Correspondent Banking activities, along with extensive Retail Banking activities based on Bank Audi’s acquired expertise in the field.
Set to become the Group’s second largest entity outside Lebanon, Bank Audi sae aims at achieving a 3% market share in the coming years by engaging in several important partnerships. In parallel, the Bank is working on establishing a strong domestic franchise through an extensive branch network that now includes 32 branches offering high-quality products and services with attractive benefits.
The Bank’s financial philosophy is to increase sales of its products and services, boost its operating margins and manage its capital intensity within very strict control procedures. This ensures a better immunity for Bank Audi sae and helps it provide the best banking services and products to individuals and institutions.
Bank Audi sae Address
Pyramids Heights Office Park, Cairo-Alexandria Desert Road, Km 22, Sixth of October City.
P.O. Box 300 El Haram. Postal Code 12556.
Tel: (20-2) 35343300. Fax: (20-2) 35362120.