NBK & Zain offer services to customers in Egypt through Al Watany Bank of Egypt

• Al Majed: We are keen to serve our customers and students studying in Egypt through all AWB branches.

• Al Sabeeh: we provide all Zain Services to our customers through AWB.

• Hassan: AWB is qualified to be a gateway for the Kuwait Investment in Egypt.

The announcement was made in a press conference to introduce the AWB vision aiming to serve the Kuwaiti investors and companies operating in Egypt, and those who are planning to invest in the Egyptian market, as well as providing services and facilities to the Egyptian expats in Kuwait, being one of the most important customers' categories the bank is interested to attract.

NBK Deputy Chief Executive Officer Adel Abdul Wahab Al Majed said in the press conference that was held in NBK Head Office and was attended by Mr. Barrak Al-Sabeeh Zain Kuwait Chief Executive Officer (CEO), and higher management members of NBK and AWB, that this step comes in line with the magnificence the bank attaches for the fulfillment of the needs of the growing numbers of travelers for tourism and vacation purposes, in addition to the normal movement of business people from both the countries, and the increasing numbers of the Kuwaiti students studying in Egypt, as well as the Egyptian nationals residing in Kuwait, the majority of whom proceed on vacation to their homeland in summer.

'Main AWB branches in Mohandesin, Heliopolis, City Star & Alexandria will extend Zain services for all customers during their stay in Egypt, in addition to a number of other new services which will be launched soon in accordance with the joint agreement between NBK and Zain, which stipulates to offer its integrated spectrum of services to customers visiting Egypt, and to the Kuwaiti students studying in Cairo through the branches of AWB, the fully affiliate of NBK', Al Majed added.

Zain Kuwait Chief Executive Officer (CEO), Barrak Al-Sabeeh, said 'Once again, we join efforts with NBK to offer value-added services and quality that meet our customers' expectations. Our partnership with NBK has proved successful in Lebanon and London and this new agreement is a continuity of this partnership.'

Al-Sabeeh said Zain Kuwait will continue to develop its capacities through NBK branch network, which the largest of its kind in the Middle East, in order to extend its services to its clients wherever they are.

The new service allows Zain customers to pay bills, access roaming services, place international calls, purchase new SIM cards and reactivate mobile lines through NBK branches in Egypt.

Al Majed also lauded the strong cooperation existing between NBK and Zain, indicating that such partnership has been manifested in a multitude of mutually beneficial activities in various countries. He further commended Zain as one of the best regional and international telecommunications companies, adding that he expects a flourishing tourism season in Egypt this year.

Al Majed said that AWB, which is a member of the NBK Group, is fully equipped with its network of 26 branches distributed in the most strategic locations and governorates in Egypt, including major cities such as Cairo, Al Jeeza, Alexandria, 6th October, Al Mansoura and Sohaj.

From his part, Managing Director of Al Watany Bank of Eygpt, Dr. Yassir Ismail Hassan said: 'AWB enjoys venerable experience in the Egyptian market for the last 28 years, which entitles it to play as gate for the Kuwaiti companies willing to enter the Egyptian market by providing them with all services needed for the financing purposes of investment projects, in addition to serving more than 400 Kuwaiti companies already operating in the market.'

'Joining forces, efforts capabilities, and experience of NBK in the Kuwaiti market with those of AWB in the Egyptian market will create a distinguished banking entity, which can extend competitive services and meet all Kuwaiti and Egyptian customers needs with a high degree of efficiency', Hassan added.

Free Money-transfer and Zain Services at All Branches

In connection with the above, NBK has already announced providing Free Money-transfer for its Egyptian clients from all NBK Kuwait branches to AWB branches in Egypt through WOL and Hala Watani.

The bank also will extend Zain services for Kuwaitis staying in Egypt such as payment of bills, purchase of mobile lines, roaming, etc, through AWB in Egypt.

Uninterrupted Profit Growth of AWB

AWB achieved record net profits of EP243.5m, an increase of 157% compared with the preceding year.

It had also growth of 129% in the 1st quarter 2008 to EP101m, compared with same period of 2007.

AWB is fully equipped with its network of 26 branches distributed in the most strategic locations and governorates in Egypt, including major cities such as Cairo, Al Jeeza, Alexandria, 6th October, Al Mansoura and Sohaj
NBK Group has made net profit of $1002m as of year end 2007, and the total assets and shareholders equity of the Group for the same period amounted to $42.3bn and $5.5bn respectively.