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FABMISR successfully integrates all banking services with Bank Audi Egypt

FABMISR successfully integrates all banking services with Bank Audi Egypt
CEO and Managing Director of FABMISR, Mohamed Abbas Fayed
FAB
NBAD
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Cairo – Mubasher: FABMISR, a subsidiary of the First Abu Dhabi Bank (FAB), announced the completion of the integration of Bank Audi Egypt with the successful migration of all banking relationships and services under the FABMISR umbrella.

The new integrated entity cements the bank’s commitment to its customers as one of the largest private sector banks operating in the Egyptian market, according to a press release on Tuesday.

During a press conference, Mohamed Abbas Fayed, CEO and Managing Director of FABMISR, stated that this integration contributes to strengthening the size of the new entity and its local presence across the country. It also facilitates the access of all banking services to customers through a strategically located and integrated branch network.

Our efforts are aimed at supporting existing customers and attracting potential customers across corporate and personal banking divisions. We are also keen to support the banking sector in Egypt, as we believe in its important role to achieve financial inclusion under Egypt's Vision 2030,” Fayed added.

Following the successful legal merger, FABMISR officially became one of the largest private banks operating in Egypt with assets estimated at EGP 187 billion, operating with 69 branches and 211 ATMs nationwide.

Noteworthy to mention, FABMISR plans to pump more investments to launch various products, services, and digital solutions for both conventional as well as Islamic banking customers. Over the coming period, the FAB group aims to accelerate its pace of expansion in Egypt, given the growth prospects and strong bilateral ties between both countries.

FABMISR is one of the most prominent investments of the UAE and the FAB Group in Egypt. The group places a huge emphasis on the Egyptian market as one of the region’s promising markets and the gateway to investments in the African continent.