A NBK Branch in Egypt’s New Cairo Photo Courtesy of NBK Facebook
The National Bank of Kuwait (NBK-Egypt) has launched an SAP corporate banking solution, in partnership with MDSap, an expert in SAP’s omnichannel banking solutions in order to digitalise corporate business online operations and build lasting customer relationships, the bank announced on Monday.
“Powered by SAP Omnichannel Digital Business, an extendable distinct banking platform, NBK-Egypt enables small business and large companies to check balances, make online payments, transfer money between accounts, have better cash positioning and forecasting, along with instant trade facilities and approvals. Our ultimate goal is helping businesses to digitally manage cash flow as part of their day-to-day operation”, said Amr El-Alfy, the chief business officer at NBK-Egypt.
The NBK was founded in 1952 as the first indigenous bank and the first joint-stock company in Kuwait and the Gulf Region; it is considered the largest financial institution in Kuwait.
In 2007, the NBK acquired Al-Watany Bank of Egypt (AWB) to start operations in Egypt for the first time, which marks a new milestone in the regional expansion of NBK.
After the acquisition in 2007, the NBK kept the bank’s name as AWB, only adding “A Subsidiary of NBK Group” to the logo, until mid-2014 when the bank’s name and logo changed to NBK.
The NBK was also named among the Global Finance's list of the 50 safest banks in the world for the fourteenth consecutive time.