Egypt, new dimensions, new frontiers

Mr. Mohamed Barakat, Vice Chairman and Managing Director of EGB

Interview with Mr. Mohamed Barakat ,
Vice-Chairman and Managing Director
Read our exclusive interview
Egypt -

"Innovation in Banking"

Mr. Mohamed Barakat,
Vice-Chairman and Managing Director

El-Orman Plaza Building
8/10 Ahmed Nessim street,
P.O. Box # 56 El-Orman
Tel: (202) 760 65 94
        (202) 360 34 61
        (202) 360 64 67
Fax: (202) 349 00 02
         (202) 360 65 12
Company Profile

Egyptian Gulf Bank (EGB) is an Egyptian joint stock company which was established in pursuance of Decree n296 of October 14, 1981 and in accordance with provisions of investment law and executive regulations. The bank renders all banking operations related to its activity in local and foreign currencies and finance the internal and external trade through its head office in Giza and at the nine following branches in different areas in Egypt:

-Heliopolis Sporting Club
-10th of Ramadan

EGB has completed the link between its all 9 branches, thus, enabling its customers to utilize any branch for deposit and withdrawal.

EGB's mission

To help the communities it serves achieve optimal economic growth while maximizing the value of it shareholders investment through offering it carefully selected customers superior financial service and products and maintaining/enhancing its internal environment that promotes customer orientation, professionalism, creativity, motivation and job satisfaction.

Corporate banking

The Corporate Banking remains the cornerstone in EGB's business development. The department is active in soliciting new corporate relations of medium to large size local companies as well as maintaining the existing relationships.

An integral success of EGB's Corporate Banking continues to be their our firm commitment to the concept of "Relationship banking" which aims towards the complete understanding from the part of the account officers to their respective clients' financial needs.

Treasury and Capital Markets Department

Treasury Department provides foreign exchange and securities trading service to the bank and its clients. Its existing facilities give access to dealing centers worldwide, provide information on foreign exchange & money market rates.

Correspondent Department

The department continued its efforts to strengthen the existing alliances with prime financial institutions around the world. The main responsibility is to manage and expand EGB's foreign and local correspondent banking network to support and accommodate the business growth.
In 1998, the priority was centralized around strengthening the business relationship with Egyptian banks in order to increase the existing credit lines and foster new relations. In 1999, the department was planning to focus on trade related products such as bills discounting, risk sharing and forfaiting business.

Retail Banking

EGB has strategically positioned itself to focus on Retail banking as one of its core businesses. EGB has launched their credit card program, issuing both Visa & MasterCard and also Visa El-Ahly Sporting Club, the first Affinity Card in Egypt.

Many ATM machines have been installed.

EGB is currently studying the implementation of "Data Base Management" and "Decision Support Systems" in order to identify potential customers within their clientele base for exiting future retail products.

Companies in which the bank is a founder & shareholder

-Giza Cables Company

-Aluminum Sulphate Company of Egypt

-Misr Compressors Manufacturing Company


Sons OF Mohamed Mahmoud family (Egypt) 24,06%

Misr Insurance Company (Egypt) 20,44%

Kuwait Real Estate investment Consortium (Kuwait) 13,88%

Jawad Ahmed Bukhamsseen & companies (Kuwait) 09,38%

Abdel Rahman Hassan Sharbatly (Saudi Arabia) 05,12%

Abdullah Taha Bakhesh (Saudi Arabia) 04,58%

Union of employee shareholders of Misr Insurance Co. (Egypt) 04,47%

Red Sea insurance company (Saudi Arabia) 01,38%

Jawad & Haydar Abul Hassan Company (Kuwait) 01,14%

Others 15,55%

  Read on  

© World INvestment NEws, 2000.
This is the electronic edition of the special country report on Egypt published in Forbes Global Magazine.
August 7th 2000 Issue.
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