Bank NXT, a leading provider of integrated retail and corporate banking solutions in Egypt, announced the extension of its collaboration with Network International (Network), a leading fintech company in the Middle East and Africa, to accelerate the digitalization of its payment services and further modernize its payments infrastructure.
As part of the collaboration, Bank NXT will migrate its ATM and debit card portfolio to Network’s end-to-end processing platform, enabling more streamlined operations, strengthening security controls, and enhanced customer experience.
The agreement underscores Bank NXT’s strategic commitment to advancing its payments infrastructure in partnership with Network. Migration supports the Bank’s expansion agenda by building trust among existing and new customers.
The partnership comes at a significant time, as Egypt’s banking sector undergoes rapid digital transformation, driven by the Central Bank of Egypt to foster a thriving digital economy.
Tamer Seif El-Din, CEO and Managing Director of Bank NXT, said: “Our collaboration with Network International is a cornerstone of Bank NXT’s strategy to modernize our payments infrastructure and better serve our customers. Migrating our debit card and ATM portfolio to Network’s robust processing platform will enable us to achieve greater operational efficiency, introduce innovative services faster, and ultimately, provide a seamless, secure, and digitally advanced banking experience. This collaboration reaffirms our commitment to leveraging cutting-edge technology to drive our strategic expansion and meet the evolving needs of the Egyptian market, contributing significantly to the nation’s digital transformation.”
Dr. Reda Helal, Group Managing Director – Processing, Africa & Growth Markets
at Network International, commented: “We are excited to work alongside Bank NXT, especially as the nation continues its digital transformation journey. This collaboration underscores our commitment to expanding our geographic footprint and supporting the digital evolution of banks across the MEA region. By providing our expertise and end-to-end processing capabilities, we are enabling Bank NXT to scale their services effectively, while contributing to Egypt’s strategic financial goals. This is a testament to our leadership and value proposition in payments modernisation and our dedication to fostering growth for our partners.
Through this partnership, Bank NXT continues to strengthen its infrastructure and enhance its capacity to deliver scalable, secure, and future-ready financial services.
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 banking services for individuals through its broad 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 37 branches nationwide. It is constantly working on expanding its geographical 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.
