Ahli United Bank- Egypt (AUB) has on Thursday launched its EDGE package, the first of its kind in the Egyptian banking sector in terms of retail banking services, with multiple and exclusive benefits for customers.
This new and unique product is part of the AUB’s strategy aimed at providing an innovative and distinguished banking service and achieving diversification in the range of products offered to customers in order to maintain its success in the Egyptian market.
Ossama Elsayed, deputy CEO for retail and private banking, said that the new EDGE package is launched for the first time in the Egyptian banking sector, reinforcing the bank’s leadership in providing all that is new in the banking industry to its clients.
He added that EDGE package succeeded in combining the customers’ interests in terms of savings and borrowing, to represent the ideal solution to provide the option to save on the amount remaining in their account with a competitive return.
At the same time, the package has enabled the customers to borrow via credit card, which is unique in being the only one in the Egyptian market that gives the freedom to withdraw cash and purchase without interest. It provides all these privileges under one umbrella for the first time in Egypt.
He stressed that the AUB provides the possibility of obtaining EDGE package services in an easy and safe way anywhere and at any time. This would be through the bank’s e-Account feature, where the client can open the account through the mobile phone or the bank’s website, then visit the branch to complete all opening documents, activating the account and enjoying many special benefits.
Elsayed explained that the new account aligns with the aspirations and visions of clients, which represent a major focus in the bank’s plans and objectives and its expansion in the Egyptian market. This step also supports the Central Bank of Egypt’s (CBE) strategy aimed at promoting financial inclusion among citizens.
He added that the package allows clients to open a current account with a competitive return, which is calculated on the daily balance of the amounts available for use by the client, which exceeds the account minimum, and is added monthly. He indicated that the minimum amount for opening the account is 100,000 Egyptian pounds, with complete freedom over the withdrawal and deposit process, through AUB’s 40 branches nationwide, and its 85 ATMs.
Ossama Elsayed added that the new package also allows credit card issuance to customers, equipped with the contactless payment service. Customers can also issue additional cards for their family members.
Moreover, Elsayed pointed out that credit card holders can benefit from the AUB’s rewards programme, which allows points to be calculated on withdrawals and purchases, to be exchanged by contacting customer service, and converted into money deposited in the customers’ account or charging the mobile balance. The points expire after 24 months of their acquisition.
AUB contributed to promoting financial inclusion through launching many financings and savings products that led to the growth of the bank’s base of clients. It also led to increasing the size of the loan and credit facilities portfolio (before calculating provisions) by 22.3 percent to achieve 48.3 billion pounds as of June 30, 2022, compared to 39.5 billion pounds as in December 2021. The bank’s clients deposits portfolio grew by 14 percent to 61 billion pounds as of June 30, 2022, compared to 53.5 billion pounds as of December 31, 2021.
