Cairo – Mubasher: aiBANK announced a new brand name and identity as Bank NXT to reinforce its position in Egypt’s commercial banking sector, according to a press release.
The rebranding aims to meet the evolving needs of its diverse clientele amid a new era of growth and digital innovation, with Bank NXT securing timely and accessible financial solutions.
Meanwhile, the lender plans to continue investing in its human capital and digital infrastructure to bolster its competitive edge by providing optimised, quick, and distinctive services.
This move aligns with the bank's vision to play a pivotal role in supporting its clients and communities as they navigate the changing financial landscape.
Rania El-Mashat, Minister of Planning, Economic Development, and International Cooperation, as well as Chairperson of the National Investment Bank and the Sovereign Fund of Egypt (TSFE), commented on the strategic move.
El-Mashat highlighted: "This initiative is a key part of our vision to create opportunities for the private sector while maximising the value and returns from state-owned assets. Ultimately, this approach supports the goals outlined in the State Ownership Policy Document, which aims to enhance economic growth across the nation."
Tarek Kabil, Chairman of Bank NXT, said: “The rebranding exercise goes beyond changing our name and brand identity; it also symbolises the quality of our offerings, which we tend to launch soon to target new customer segments. Such offerings reflect our innate vision to position ourselves among the top ten banks in Egypt in terms of return on equity and return on assets in the next five years.”
“The bank is committed to maintaining high governance standards and solid banking practices while addressing all current challenges proactively and improving our digital infrastructure. This helps us secure an improved market share and stay up-to-date with the latest digital solutions in the banking sector,” Kabil added.
Tamer Seif, CEO and Managing Director of Bank NXT, indicated: “Our successful implementation of a robust growth strategy—marked by an expansion of our geographical footprint and a commitment to digital transformation—demonstrates our adaptability.
“This change is designed to support growth, digital innovation, and customer-focused solutions that address the needs of individuals, small businesses, and corporate clients, while also encouraging positive economic developments,” Seif concluded.
In August, aiBANK and Visa joined forces to boost financial inclusivity by providing customers with a new integrated package of e-payment solutions.
