The Banking Executive Magazine - June 2025 Issue

EG Bank, Mastercard EG Bank, Mastercard JOIN FORCES TO REINFORCE DIGITAL PAYMENT SERVICES Egyptian Gulf Bank (EG Bank) has teamed up with Mastercard to boost financial accessibility, expand digital payment adoption, and provide afflu- ent individuals with new segments to the bank’s card portfolio, as per an emailed press release. The collaboration aligns with EG Bank’s strategy to offer a convenient, seamless, and secure payment expe- rience for its customers. Under the partnership deal, Master- card will support the EGX-listed lender in developing its portfolio of debit, credit, and commercial cards, which will secure tailored financial solutions with additional benefits. The bank seeks to attract new cus- tomer segments by offering different banking services to individuals, busi- nesses, and corporations. This is in addition to a wide range of digital banking services, such as mobile banking and internet banking, en- abling customers to manage their ac- counts and conduct transactions remotely. Mohamed Assem, Country Manager for Egypt, Iraq, and Lebanon at Mas- tercard, said: “This collaboration un- derscores our joint commitment to driving the growth of the digital pay- ment ecosystem, unlocking new op- portunities for sustainable financial empowerment.” Yasmeen Galal, Head of Consumer Banking and SMEs at EGBANK, com- mented: “Our collaboration with Mastercard marks a significant mile- stone in our strategy to diversify our product offerings and enhance our customers’ banking experience.” “This collaboration enables us to offer seamless and rewarding finan- cial solutions that meet the evolving needs of today’s consumers while driving long-term growth and inno- vation in Egypt’s financial land- scape,” Galal added. In the first quarter (Q1) of 2025, EG Bank posted 27% year-on-year (YoY) higher consolidated net profits after tax at EGP 758.713 million in the first quarter (Q1) of 2025, compared to EGP 596.541 million. the BANKING EXECUTIVE 38 ISSUE 198 JUNE 2025