Meet National Bank of Egypt (UK)
As part of our Meet the Bank series, we find out more about our partner banks, and hear more about their values, the challenges they face, and what makes them different.
About National Bank of Egypt
The National Bank of Egypt (UK) Limited has been in the UK since 1982, providing its UK and overseas customers with a diverse range of banking services. These include trade finance, corporate banking, buy to let mortgages, personal banking and treasury products. It is the UK subsidiary of National Bank of Egypt (NBE), which is the oldest and largest bank in Egypt, and one of the largest banks in the MENA region. During the 1950s, NBE assumed central bank duties in Egypt before the Central Bank of Egypt was established in 1961. In 1960, after nationalisation, NBE became a commercial bank and was in charge of issuing and managing savings certificates on behalf of the Egyptian government.
🕰️ Established in: 1982
🏠 Based in: London
🏢 Offices: Egypt, UK, US, China, UAE, South Africa, Ethiopia, and Sudan
🧍♂️ Number of employees: 76
❤️ Raisin UK partner since: 2022
What makes your bank unique?
National Bank of Egypt (UK) Limited (NBEUK) is a UK bank that is a subsidiary of the National Bank of Egypt (NBE). It is the only subsidiary or branch of any Egyptian Bank in the UK and provides a gateway for UK and European businesses to doing business with Egypt. NBEUK also has a growing buy-to-let mortgage business, financing buy to let properties in prime areas in cities of England.
What are your bank’s core values?
- To deliver world-class products and the highest quality service to our customers
- To attract, develop and retain the best banking talent
- To support the communities in which we operate
- To adhere to our core values of passion, integrity, conservatism and knowledge
What are the biggest changes and challenges that your bank has faced in the last two years?
The biggest change that we have made to our business is to further diversify our business to increase our UK footprint via our English buy-to-let mortgage business.
What are the benefits of your bank working with Raisin UK?
The key benefit of working with Raisin UK is that Raisin UK’s platform provides UK savers with the opportunity to place their funds into the fixed rate deposits offered by NBEUK. In doing so, the Raisin platform also has the benefit of increasing NBEUK’s visibility with UK depositors.
What new trends in banking and finance do you predict we will see in the next 12 months?
One of the key trends that all banks are managing at the moment is an increasing interest rate environment. This is something that banks and their customers have not seen since before the global financial crisis in 2008. For savers and depositors, this is good news as returns on savings are finally increasing after more than 10 years of low returns.
Finally, tell us something about your bank that customers would be interested to know.
NBEUK is one of the oldest foreign banks in London.
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