Riyadh – Sharikat Mubasher: The National Bank of Egypt (NBE) announced the opening of its first branch in Saudi Arabia on October 16, following approval from the Saudi Central Bank to operate in the Kingdom through its office in Riyadh.
As per a recent press release, the branch will offer a range of corporate banking and trade finance services designed to support businesses and investors in achieving their financial objectives.
Mohamed El-Etreby, NBE Chief Executive Officer, said the new branch aligns with the bank’s strategy to broaden its international footprint and expand its financial services. He noted that Saudi authorities, led by the Saudi Central Bank and other relevant government bodies, provided full support throughout the establishment process and licensing stages.
El-Etreby added that the Riyadh branch will deploy advanced banking technologies and employ top talent from the Saudi labor market, ensuring high-quality service standards while maintaining NBE’s distinctive corporate identity.
He emphasized that the bank’s presence in Saudi Arabia aims to serve companies operating in the Kingdom and facilitate collaboration across various sectors.
