Bank Audi to open 25 branches in Egypt in 3 years

Bank Audi SAE, Egypt’s eighth largest commercial bank and the Egyptian arm of Lebanon’s Bank Audi, is planning to increase its presence in Egypt.

Bank Audi aims to have 62 branches by end of 2018, its chairman and managing director Hatem Sadek said Monday.

In a year, the bank has added three more branches to its network to involve 37 branches by the end of 2015, from 34 in 2014.

Furthermore, Bank Audi’s chairman further said his bank captures a market share of 1.65 percent, while deposits and loans capture 1.7 and 2.17 percent, respectively.

Meanwhile, Yehia Kamel – Deputy Managing Director, said that Bank Audi Egypt has allocated US$ 30 million to develop its technological infrastructure until the middle of 2017