AUB Egypt: Total Dollar Remittances Hit $300 mln in 2013

In 2013, Ahli United Bank – Egypt (AUB) reported total dollar remittances worth US $ 300 million, the lender’s CEO revealed to Amwal Al Ghad on Sunday.

Nevine El Messeery – CEO and Managing Director of Ahli United Bank of Egypt – has attributed AUB’s significant size of dollar remittance in Egypt’s market to the bank’s network across the region which is characterized by the presence of Egyptian labour expatriates.

AUB Egypt recorded unaudited profits of EGP 285 million during 2013, El Messeery noted, saying the bank’s Egypt business accounts for around 10% of the Group’s total profits.