Visa honors QNB ALAHLI for reaching the record of its issued cards to 2 million

Posted on : Wed, 18 Oct 2023


The bank is the pioneer in issuing bank cards of various types in partnership with Visa. 
 

In continuation of its leading role in providing innovative banking services and products, and to enhance the financial inclusion portfolio, digital transformation and the quality of digital payments, Visa, the global leader in electronic payment solutions, honored QNB AlAhli a subsidiary of QNB Group, the largest financial institution in the Middle East and North Africa, after the card issued number reached two million. This is an affirmation of the role played by the bank in the Egyptian market and the achievement of the Central Bank's strategy towards enhancing financial inclusion, digital transformation and reaching a society less dependent on banknotes. 
The ceremony was attended by Mr. Tarek Fayed, Assistant CEO and Chief Business Officer of QNB ALAHLI, and Mr. Ayman Gamgoum, Commercial Director – Retail and SMEs). Ms. Nagham Kandil, Head of Retail Banking, and several members of the bank's and company's management.
On this occasion, Mr. Mohamed Bedeir, Chief Executive Officer of QNB ALAHLI, said that the bank has achieved exceptional success in the retail banking sector and has pioneered the issuance of bank cards of various types in partnership with Visa. , which is a key player in strengthening the electronic payment system in Egypt, emphasizing that the bank is looking forward to play a greater role and expand the provision of integrated banking services through bank cards, which contribute strongly to achieve the growth of financial inclusion rates and digital transformation in accordance with the directives and objectives of the Central Bank of Egypt. He explained that this achievement is not just a number, represents the growth and prosperity of our financial systems and policies and in recognition of our continuous efforts in providing distinguished and safe banking services for all the customers. It also reflects the great confidence that customers lay on us and underlines the vital role played by the Bank in supporting these portfolios. 
Mr. Mohamed Bedeir added that the partnership between QNB ALAHLI and Visa has achieved many successes, as the number of cards reached more than two million cards (direct debit card, credit card, prepaid card) provided to both individual and business customers, with an increase in the card portfolio, reaching about EGP 1.9 billion in the third quarter of 2023, with a growth rate of 75% over the last 3 years. During the past three years, QNB ALAHLI has developed some of the existing products as well as launched new ones.
Mr. Bedair stressed that the retail banking sector is witnessing remarkable development and rapid growth, as the number of retail customers exceeded 1.7 million, and the loan portfolio in the retail banking sector reached about EGP 50 billion by the end of the third quarter of 2023, with a growth rate of 11% compared to the end of last year.

Ms. Malak El Baba, General Manager of Visa in Egypt, added: "The partnership between QNB ALAHLI and Visa in Egypt extends back more than 15 years, during which we have achieved many achievements that have directly contributed to the development of electronic payments in Egypt, and reaching 2 million cards is the result of hard work on innovation and continuous development by the two institutions to improve the customer experience in the Egyptian market."
Ms. Nagham Kandil, Head of Retail Banking Division at QNB ALAHLI, said: 
"QNB ALAHLI has succeeded in jumping from one million cards to 2 million cards in 5 years, as it has launched many unprecedented products and cards in the Egyptian market to suit all categories of customers of all ages, which are: Visa infinite and Visa Signature credit card, which are specially designed for QNB ALAHLI “First “customers.
In line with the bank's role to support financial inclusion and target the youth segment, the bank will work on issuing new cards with a co-branded with educational authorities to replace the university ID card for students with an identification card and an electronic payment at the same time.
QNB ALAHLI also issued a new range of new Visa Business Platinum cards for business owners, as well as Platinum debit cards in foreign currencies, and according with the Climate Summit and continuing the series of successful partnerships with Visa during COP 27, the bank issued bank cards from environmentally friendly materials under the slogan "Think Nature".
QNB ALAHLI becomes one of the leading banks in the Egyptian market to issue this type of card, which confirms our commitment to supporting the green economy and achieving the sustainable development goals."
QNB ALAHLI, a subsidiary of QNB Group, is the largest financial institution in the Middle East and Africa (MEA) region, one of the largest private sector banks. It has managed to maintain his position in the Egyptian market, which has helped him achieve remarkable growth in his loan and deposit portfolio with growing market share and increasing revenues especially in the retail banking sector.