Egyptian American Bank (EAB) was established in 1976 as a joint venture between American Express Holdings Inc, with a 49% shareholding, and the public-sector Bank of Alexandria with 51%. Egyptian American Bank increased its capital in July 1996, to conform to government privatization directives, by 20%, and offered the new shares to the public and our employees. Today, American Express holds a 40.83% stake in the Egyptian American Bank while Bank of Alexandria holds 32.50%. The remaining shares are held by our Bank′s employees, companies and by private individuals.
During the course of 2001, extensive discussions were held between our shareholders about the possible sale of Egyptian American Bank to a third party. Those discussions terminated at the end of the year. While recognizing the clear attractiveness of the Bank to other investors, our shareholders are committed to ensuring the growth and development of Egyptian American Bank so that we can play our full part in Egypt′s ongoing economic development.
Our Bank has forged a reputation for leadership and innovation in the highly competitive Egyptian market by offering our clients a broad range of financial services through our network of thirty branches. Our focus has always been on the provision of quality customer service through highly trained and motivated personnel and through technologically advanced operations. Our Bank maintains a close relationship with American Express Bank, making extensive use of its global branch network as well as of its expertise in risk management, treasury, audit and private banking. Our Bank is committed to following internationally accepted practices with regard to "Know Your Client" (KYC) and money laundering.
History
Founded in 1976
Mode of Finance
Alexandria Bank 33,8%
American Express Bank 40,8%
Persons and Insurance Companies 25,4%
(last updated: 27-February-2003)
The documentation was gathered with the best efforts of researchers and scholars, in neutral and scientific spirit. We welcome all clarifications, corrections and improvements for best services. A Concept Team makes every effort to ensure, but cannot guarantee, the accuracy at all times of this information. Hyperlinks to or from other websites imply neither responsibility for, nor approval of, the information contained in those websites by A Concept. Copyright A Concept mafhoum "the Arab Decision Makers Project"
Egypt \ Commercial Banks \ Egyptian American Bank
