Bank NXT, a leading provider of integrated retail and corporate banking solutions in Egypt, and EFG Hermes, the leading investment bank in MENA, announced the launch of the EFG Hermes ONE x Bank NXT credit card by Visa, following approval from the Central Bank of Egypt.
Designed for EFG Hermes ONE clients, the new co-branded card brings together Bank NXT’s retail banking capabilities and EFG Hermes ONE’s digital investment platform, creating a more integrated financial experience that connects everyday spending with long-term wealth-building.
The card is built around a simple proposition: making daily spending more rewarding. Cardholders will be able to earn cashback on transactions, with rewards credited directly to their EFG Hermes ONE wallets. Clients may then use these rewards within the platform, giving them the opportunity to reinvest their cashback and grow their portfolios over time.
The EFG Hermes ONE x Bank NXT credit card will also offer a range of lifestyle and financial benefits, including complimentary access to select airport lounges worldwide and flexible installment plans with repayment tenors of up to 60 months.
“We are pleased to partner with EFG Hermes to launch a rewarding credit card that makes everyday spending more valuable while offering customers greater flexibility, convenience, and choice,” said Iman Badr, Deputy CEO, Consumer Banking, Marketing, and Financial Inclusion at Bank NXT. “As Egypt’s first co-branded credit card between a bank and a brokerage firm, the EFG Hermes ONE x Bank NXT credit card reflects our commitment to customer-centric innovation. By leveraging capabilities across EFG Holding, we are unlocking synergies that deliver best-in-class financial services and meet the evolving needs of customers in Egypt.”
Ahmed Waly, Global Head of Brokerage at EFG Hermes, said: “We are excited to introduce this smart product to EFG Hermes ONE clients in partnership with Bank NXT. EFG Hermes ONE has been a trusted trading app for years, backed by the leading brokerage platform in the MENA region. Our goal has always been to provide clients with services that support their financial well-being and respond to their everyday needs. By offering a credit card that rewards clients with cashback credited directly to their EFG Hermes ONE wallets, we are helping them continue building their investments, even as they spend.”
The planned card launch follows the recent introduction of five mutual funds on the EFG Hermes ONE app, giving users access to a curated selection of investment products managed by EFG Hermes’ award-winning asset management team. Together, these initiatives reflect EFG Hermes ONE’s broader strategy to expand access to investment solutions, simplify the client journey, and strengthen the app’s position as a comprehensive digital gateway for wealth building.
The Bank NXT x EFG Hermes ONE credit card will be available to eligible EFG Hermes ONE clients. Card issuance, eligibility, and credit limits will be subject to each client’s investment portfolio size, applicable assessment criteria, and terms and conditions.
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.
The bank has witnessed continuous capital growth, reaching EGP 1.9 billion in 2020. Moreover, as per the decisions of the general assembly held on October 10, 2021, and after the completion of the Bank’s acquisition deal, the Bank received approval to increase its paid-up capital to EGP 5 billion 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%)
Additionally, based on the General Assembly decision dated March 24, 2024, a further capital increase was approved, bringing the total to EGP 5.4 billion.
Furthermore, based on the General Assembly decision dated March 20, 2025, a further capital increase was approved, bringing the total to EGP 5.7 billion.
On August 17, 2025, the Bank’s Board of Directors, in accordance with the authorities granted to the Board, approved a cash increase to the Bank’s issued and paid-in capital amounting to EGP 4.2 billion, bringing the total issued and paid-in capital after the increase to EGP 9.9 billion, through the issuance of new shares to existing shareholders in proportion to their current shareholdings, without any change to the ownership structure.
The Bank offers its services to its customers through its 36 branches nationwide. It is continually expanding its geographic presence by opening new branches. 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 by investing in its technology systems and human capital to improve the overall quality of its banking services.
