130:(NBK) acquired a 51% stake in Al Watany for US $ 516 million. The offer was extended to other shareholders and by October 2007, the National Bank of Kuwait had acquired a total of 93.77% stake in the bank for a cost of over US $ 900 million by October 2007. The purchase marked the entry of the National Bank of Kuwait into the Egyptian market for the first time and represented a significant stage in the bank's strategy of expansion in the region. The bank intended to triple the number of branches in five years and turn Al Watany into Egypt's third largest retail bank.
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The Al Watany Bank of Egypt made a net profit of 243.6 million
Egyptian pounds (US $ 44.5 million) in 2007, a 157% increase compared to 2006. It posted a profit of 290.6 million Egyptian pounds for the first nine months of 2008, a 29.2 percent growth compared to the same period in the previous year.
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The bank's authorized and paid capital was 1 billion
Egyptian Pounds distributed on 100 million shares with a par value of 10 Egyptian Pounds each. It has 41 branches located across Egypt from
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The Al Watany Bank of Egypt was founded in May 1980 by several
Egyptian businessmen as a joint Stock Company under the provisions of Law 43/1974 with two branches in
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391:"National Bank enters Cairo: Al-Watany acquisition will pave the way for expansion in retail sector"
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Its assets were valued at 14.6025 billion
Egyptian pounds at the end of the third quarter of 2008.
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480:"Watany Bank of Egypt posted 290.6 mln in profit up to Q3 of 2008"
303:(Press release). NBK Press Office. 15 August 2007. Archived from
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336:. News World Communications Inc. 29 October 2007. Archived from
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330:"Kuwait's NBK acquires 93.77 % of Egypt's AlWatany Bank"
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238:"WATA Profile & Executives - El Watany Bank of Egypt"
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208:"Officers and Directors For Al Watany Bank of Egypt"
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112:is an Egyptian bank, and a subsidiary of the
451:"Al-Watany Bank's profits jump 157 per cent"
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301:"NBK wins bid for Egypt's Al-Watany Bank"
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539:Egyptian companies established in 1980
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265:Sherman, William (4 February 2003).
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361:"NBK buys Al Watany Bank of Egypt"
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455:Middle East Business Intelligence
449:Hadfield, Will (11 March 2008).
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78:Chairman: Shaikha Khaled El Bahr
272:The America's Intelligence Wire
110:National Bank of Kuwait - Egypt
17:National Bank of Kuwait - Egypt
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367:. ITP DIGITAL. Archived from
359:Bowman, Joel (2 April 2008).
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395:Middle East Economic Digest
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128:National Bank of Kuwait
114:National Bank of Kuwait
172:List of banks in Egypt
46:; 44 years ago
410:registration required
287:registration required
509:AWB Official Website
267:"Staying The Course"
126:In August 2007, the
101:NBK Official Website
340:on 14 February 2008
80:Managing Director:
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91:Financial services
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334:Middle East Times
307:on 23 August 2007
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187:Banks portal
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59:Headquarters
484:ArabFinance
247:28 November
518:Categories
194:References
143:Alexandria
74:Key people
51:1980-05-01
242:Bloomberg
161:See also
151:Mansoura
87:Products
31:Industry
490:3 March
461:3 March
434:3 March
428:Reuters
401:3 March
375:3 March
344:3 March
311:3 March
278:3 March
222:3 March
212:Reuters
97:Website
49: (
41:Founded
35:Banking
457:. Emap
155:Sohag
139:Cairo
121:Cairo
67:Egypt
63:Cairo
492:2009
463:2009
436:2009
403:2009
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153:and
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