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Strike at Egypt's largest bank enters second day

Employees are striking at the headquarters of the National Bank of Egypt (NBE) to demand withheld bonuses and promotions

Ahram Online, Monday 7 Jul 2014
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State-owned National Bank of Egypt (Photo: Al-Ahram)
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Around 70 employees at the head office of Egypt's biggest bank, National Bank of Egypt (NBE), entered the second day of a strike on Monday to demand promotions and back pay, an official at the bank told Ahram Online.

Two of the strikers told Reuters on Sunday that they are seeking higher positions and financial bonuses stalled since 2007. 

A statement from the bank criticised the strike as "coming at a time when the state is asking for more [from its citizens], as opposed to damaging state institutions and the interests of the people."

It said that necessary measures have been taken against the strike's instigators and those who harm national security.

The statement added that 20,565 NBE employees were promoted from 2008 to 2013. Last year, 3011 employees were promoted, 62 percent of those who applied for a promotion.

The bank insisted that its employees have incomes and benefits that guarantee them a good life and that only those who are qualified can obtain top administrative positions.

NBE is among the biggest banks worldwide, with assets amounting to LE366.6 billion and representing 26.3 percent of Egypt's banking sector.

In 2012/13, the bank saw LE3 billion in net profits, compared to LE2.8 billion the year before.

Over 900 employees work at the bank's headquarters in downtown Cairo, where the strike took place.

Ghada El-Rayes, deputy head of public relations at the National Bank of Egypt (NBE), said that it was "business as usual" at the bank despite the strike.

Customers on Sunday were directed to nearby branches for a few hours during the strike, the statement said.

 

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