The National Bank of Egypt (NBE) signed a protocol of cooperation with Samsung Electronics to enable the holders of the bank’s credit cards to buy the company’s products in installments.
Sources told Amwal Al Ghad that the bank provides customers with variable payment periods which are six months, 10 months and 12 months. Samsung will decide upon the payment periods and advance payments. NBE cooperates with many other companies to provide its customers with more services.
A source at Samsung Electronics said that the company aims at selling more technological products catering to the needs of Egyptians. The company sells expensive products in installments such as Samsung Galaxy S4 recently launched in Egypt.
Partnering with NBE will contribute to increasing the prevalence of technological products, the source added. Samsung has seized 43% of the mobile phones market in Egypt at the end of last March.
It is worth noting that NBE has more than 3.5 million retail customers and it aims at attracting new customer segment in the three coming years through launching new products. The number of NBE’s credit cards accounts for 25% of the total number of credit cards in Egypt.
