Bank NXT, a leading provider of integrated retail and corporate banking solutions in Egypt, has announced the launch of its new Private segment. This new product provides an exclusive package of services for high-net-worth clients with a minimum balance of EGP 20 million or the equivalent in foreign currencies. The launch reflects the Bank’s commitment to delivering comprehensive financial services to individuals, with a focus on strengthening long-lasting client relationships.
In line with its efforts to meet the needs of affluent clients, Bank NXT has developed an exclusive range of products and services, including exceptional financial solutions as well as banking and non-banking services, all designed to address the requirements of this client segment with ease, efficiency, and distinction.
Private clients will enjoy a seamless, tailored banking experience with exclusive channels and priority access to the Bank. Each client will have a dedicated Relationship Manager, in addition to private lounges at most branches, as well as priority processing of banking transactions. Clients will also benefit from free account opening and checkbook issuance. The segment also provides access to an Infinite Credit Card with a credit limit up to EGP 1 million, competitive loan interest rates, bespoke financing solutions, and attractive mortgage financing plans.
Sherif Nada, Chief of Retail, Branches Network & Business Banking at Bank NXT, affirmed the Bank’s commitment to offering an exclusive and distinguished suite of high-quality services to ensure the utmost convenience. He stated that the Bank is confident the new segment will live up to the expectations of its high-net-worth clients, leveraging its extensive experience in customer service and continuous efforts to meet client needs. Nada added that the benefits of the Private segment have been carefully designed to provide a wide range of premium banking services while also granting access to abroad network of leading partners, medical services, and more, reinforcing the Bank’s strategy of expanding its tailored financial solutions.
Hazem El Wakeel, Head of Segment and Wealth Management at Bank NXT (Premier, Elite and Private), expressed his delight at the launch of the new segment, explaining that Bank NXT continues its path of development and innovation initiated with its Premier and Elite segments. With the introduction of Private, the Bank adds a broader and more distinctive set of benefits specifically designed for affluent clients. El Wakeel emphasized that this launch is an extension of the Bank’s success in delivering a refined banking experience that highlights its leading position in the Egyptian market. He further noted that the Bank is committed to providing integrated solutions that combine traditional banking with modern innovations, alongside a wide array of non-banking benefits that address clients’ daily lifestyle needs. He concluded that this step comes as part of the Bank’s vision to enhance relationships with its valued clients, build long-term partnerships founded on trust, quality, and excellence, and solidify its position as the first choice for clients seeking distinction.
Exclusive financial benefits, the Private segment will provide clients with an exceptional lifestyle experience through a host of non-banking services. These include legal and real estate advisory services, personal assistance such as handling government-related services, healthcare privileges (including doctor and hospital appointment bookings, wellness club access, and comprehensive medical checkups at leading hospitals). Travel benefits include complimentary “Ahlan” airport meet-and-greet services, airport transfers, flight and hotel bookings, and visa support. Clients will also enjoy leisure benefits such as complimentary access to SPA and hotel stays.
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About Bank NXT
Bank NXT (formerly known as aiBANK) was established in 1974 as an investment and business bank and commenced its activities under the supervision of the Central Bank of Egypt in 1978 with a capital base of USD 40 million, which was later increased to EGP 1,987 million in 2020. Moreover, as per the decisions of the general assembly held on the 10th of October in 2021, and after the completion of the Bank’s acquisition deal, the Bank received approval to increase its paid-up capital to EGP 5,400,000,006 and adjusted its ownership structure accordingly to accommodate both new and existing investors, as per the following:
• EFG Holding S.A.E – (51%)
• Egypt’s Financial Services and Digital Transformation Sub-Fund – (25%)
• National Investment Bank – (24%)
The Bank offers banking services for individuals through its wide spectrum of retail banking products in addition to its corporate banking services for businesses and institutions through providing loan syndication services to companies and institutions looking to finance large national projects that support the economy and the Bank. The Bank is keen on supporting the growth of small and medium enterprises, which play a crucial role in Egypt’s overall economic and social development, as well as, providing investment and treasury services.
The Bank offers its services to its customers through its 36 branches nationwide. It is constantly working on expanding its geographical presence by opening new branches, with two new branches set to open this month. In addition, the bank is expanding its ATM network to ensure that it covers all key locations. The Bank is also committed to satisfying its customers by providing unique and competitive services and investing in its tech systems and human capital to improve the overall level of its banking services.
About EFG Holding
EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a financial institution that boasts a remarkable 40-year legacy of success in seven countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) — the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes.
EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a provider of innovative and integrated financial solutions for small business owners and entrepreneurs, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, Bedaya for mortgage finance, Kaf for insurance, and EFG Finance SMEs, which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt.
