New head of Egypt's largest public bank appointed

MENA, Ahram Online, Thursday 8 Aug 2013

Egypt's PM appoints chairman and deputy for National Bank of Egypt

Egypt's best dealer in government bills, according to a new ratings system (Photo: Ahram file)

Egyptian Interim Prime Minister Hazem El-Beblawy appointed Wednesday Hesham Ahmed Okasha as chairman Egypt's largest public bank, the National Bank of Egypt (NBE).

Okasha, former deputy chairman of NBE, will remain head of the bank until the end of the term of the current board of directors, which ends in three years. A full term of the bank's chairman lasts four years.

The post of chairman has been vacant since January after Tarek Amer, who headed the bank for five years, submitted his resignation.

El-Beblawi also appointed Mahmoud Montasser Ibrahim, a member of the board of directors, as deputy head of NBE.

The National Bank of Egypt serves over six million customers.

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