Elevating banking in Egypt

Bank ABC’s acquisition of BLOM Bank Egypt builds on a strong heritage and presence in Egypt

a customer-centric focus

Driving forward the future of banking to deliver for customers

MENA’s leading international bank

Leveraging Bank ABC's global reputation and deep expertise to scale performance of the Group in Egypt

Powered by technological innovation

Expanding Bank ABC’s digital banking capabilities in the Egyptian market

A strategic fit

Bank ABC acquires BLOM Bank Egypt

Egypt is central to the future of banking in the MENA region. Bank ABC believes in the vision of Egypt as an integral hub of commerce and finance, and its acquisition of BLOM Bank Egypt will help it to more than triple its market share in an expanding economy.

The acquisition brings together both Bank ABC and BLOM Bank Egypt’s well-respected reputations and innovative banking services to turbocharge the Bank ABC Egypt brand and set the pace for future growth in Egypt and beyond.


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Bank ABC building

A strategic fit

Bank ABC acquires BLOM Bank Egypt

Egypt is central to the future of banking in the Middle East. Bank ABC believes in the vision of Egypt as an integral hub of commerce and finance, and its acquisition of BLOM Bank Egypt will help it to more than triple its market share in an expanding economy.

The acquisition brings together both Bank ABC and BLOM Bank Egypt’s well-respected reputations and innovative banking services to turbocharge the Bank ABC Egypt brand and set the pace for growth in Egypt and beyond.


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how the transaction works

Step 1

Bank ABC acquires 99.5% of BLOM Bank Egypt. Bank ABC Egypt and BLOM Bank Egypt continue to operate as separate entities

Bank ABC and BLOM Bank Egypt Logo

We are here

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Step 2

BLOM Bank Egypt and Bank ABC Egypt legally merge subject to regulatory approvals to form one combined entity

Phase 3

BLOM Bank legally becomes part of Bank ABC, transition to Bank ABC Egypt brand begins

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Step 3

The combined entity is fully integrated within the Bank ABC Egypt brand

Bank ABC

Meet our leadership

Dr. Yousef Abdullah Al Awadi KBE

Chairman,
Bank ABC Egypt

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DR. KhALED KAWAN

Group Chief Executive Officer,
Bank ABC Group

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Sael al waary

Deputy Group Chief Executive Officer,
Bank ABC Group

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Brendon hopkins

Group Chief Financial Officer,
Bank ABC Group

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Amr Tharwat

MD and CEO,
Bank ABC Egypt

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The BLOM Bank Egypt acquisition will:

The BLOM Bank Egypt acquisition will:

Transaction journey

January 2021
Share Purchase Agreement signed with BLOM Bank Lebanon
August 2021
Completion of the BLOM Bank Egypt acquisition following receipt of regulatory approvals and other closing actions
Q1 2022
BLOM Bank Egypt and Bank ABC Egypt legally merge subject to regulatory approvals
2023 (TBC)
Full post-merger integration of BLOM Bank Egypt and Bank ABC Egypt

Impact of Transaction

Customers

Customers will enjoy access to more branches, an increased range of services including within digital banking and a strong international network.

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Media

Bank ABC is rapidly accelerating its footprint in Egypt with the acquisition of BLOM Bank Egypt. More than tripling its market share, the transaction will allow Bank ABC to bring expanded offerings to consumers, including in digital banking.

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