The Bank of Alexandria is an Egyptian bank. It is considered one of the largest banks in Egypt, with 210 branches across the country.[1] Founded in 1957, It has a market share of almost 7% and had assets of 5.2 billion euros (US$6.5 billion) as of June 30, 2006. Intesa Sanpaolo is the major shareholder in the bank.
The bank holds 70.25% of the bank shares, IFC holds 9.75% and the Egyptian Government holds 20%. Mahmoud Abdel Salam Omar, who is a former head of the Egyptian Banks Federation, is a former chairman of the bank.[2]
History
- In 1857 local Greek merchants established a Bank of Alexandria to cater to the needs of the Greek merchant community. This bank was liquidated in 1877.
- 1864 The English overseas bank, Anglo-Egyptian Bank was founded.
- 1924 Anglo Egyptian Bank merged with The Colonial Bank