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Credit Agricole Egypt to proceed with its sustainability plans
Credit Agricole Egypt will proceed with its sustainability plans and will work on covering the cost of 186 heart surgeries within the framework of its corporate social responsibility (CSR).
As the bank marks its 15th anniversary, the bank is keen on expanding its innovative services for its clients.
Under the bank’s strategy which depends on sustainability and innovation, the bank seeks to implement digital transformation plans in accordance with the set timetable and the directives of the Central Bank of Egypt (CBE).
The CBE promotes financial inclusion, e-payment and seeks to maintain gains of economic reforms and Egypt’s credit rating with stable outlook.
Credit Agricole ranked number 1 among Egyptian banks on the Doing Business 2020 index with regard to the funds allocated for promoting technology and digital transformation.
It is worth mentioning that the bank approved at the end of June 2021 to up its capital to dlrs 5 billion in line with the new banks law.
Credit Agricole is proceeding with its plan to develop its branches and turn them into electronic payment.
The bank seeks also to increase its branches by 25 percent within three years. The bank opened six new branches in 2021.
The bank’s Deputy Managing Director Walie El-Din Lotfy said “The bank’s strategy depends on innovative solutions for financial inclusion to promote digital economy.”
He added that the bank seeks to offer distinguished banking services to be the most favorite for clients.
He said the bank is proud of its march which started many years ago and was crowned by copping several high-level awards for digital services at the level of individuals and companies.
The bank is not only interested in digitizing its banking services, but also promoting the branches nationwide.
The bank won six awards in 2021, thus highlighting its position as a key player in the economic arena. The bank copped four awards from the Global Banking and Finance Review and the Global Business Outlook in the fields of the most innovative banking product, most innovative digital bank, the best bank in Egypt for clients’ satisfaction and happiness and the best bank in Egypt for companies’ governance.
The bank also snatched an award of the best bank in digital commercial operations in Egypt and an award of the best mobile application in Egypt from the Global Finance Magazine.
Lotfy said the bank is working under the slogan “we are working for you and society,” adding that the bank has worked on a development plan, including restructuring banking services for companies and individuals, using modern technology for companies’ banking accounts, collecting data, and securing direct link between technological systems of companies and the bank without human intervention.
As for individuals, the bank launched technological applications for getting banking services through the internet or mobile phone and the client can choose the easier and more efficient method to get all banking products anywhere and anytime.
In 2021, the Crédit Agricole Egypt Foundation for Development celebrated the graduation of the third and fourth batches of “Ebhar Misr” Initiative which aims to support and discover talented youths in the fields of arts, science and technology.
This falls within the framework of the foundation’s strategy for supporting sustainable development and pushing forward for development through several social initiatives, including supporting youths and talented teens aging between 14 and 18 years old.
This program is implemented under the auspices of the Social Solidarity Ministry and the Education Ministry and in partnership with Education First foundation.
The Crédit Agricole Egypt Foundation for Development also signed a cooperation protocol with the Egypt-Japan University of Science and Technology (E-JUST) to support the “Ebhar Misr” Initiative through offering scholarships for participants in the program.
Under the protocol, the university’s professors will support “Ebhar Misr”.
The Crédit Agricole Egypt Foundation for Development also signed a cooperation agreement with the Magdi Yacoub Heart Foundation under which the bank’s foundation will cover the cost of 186 heart surgeries within three years.
The bank’s foundation also finance the establishment of a modern gamma rays unit in a new hospital being built in Cairo, in order to ensure offering the best medical services to most needy social strata.
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