• Mr. Hazem Hegazy: Al Baraka Bank Egypt's Geographic Expansion Is a Key Pillar of Its Strategic Growth Plan and Digital Transformation Journey

Cairo – Al Baraka Bank Egypt has announced the opening of its second electronic branch in Smouha district of Alexandria Governorate, marking another step in the accelerated implementation of its digital transformation strategy and the expansion of its geographical presence beyond Greater Cairo, while continuing its commitment to providing banking services that comply with the principles of Islamic Sharia. This opening builds on the success of the bank's first electronic branch at its headquarters in New Cairo's Fifth Settlement, reinforcing its position as the first Islamic bank in Egypt to adopt the digital branch model and further establish a modern banking model that combines technological innovation with the principles of Islamic banking.

The selection of Smouha reflects the bank's carefully planned geographical expansion strategy, given the area's high traffic density and growing commercial activity, making it an ideal environment for introducing a self-service branch model, while also supporting regional expansion and making banking services accessible to a broader customer base.

The opening of this branch also marks a key milestone in accelerating the shift of daily transactions to digital channels, ensuring a faster, more flexible banking experience around the clock. The branch offers a comprehensive suite of smart services powered by the latest technologies, enhancing the customer experience while reducing reliance on traditional banking procedures.

In this context, Mr. Hazem Hegazy, Chief Executive Officer and Vice Chairman of Al Baraka Bank Egypt, stated: "The launch of electronic branches aligns with the bank's digital transformation strategy, and the opening of Smouha branch marks another step forward in this journey, supporting our vision of increasing the percentage of digitally active customers to 70% by 2027. At the same time, we remain committed to providing innovative banking solutions that comply with the principles of Islamic Sharia, while advancing our goals of promoting financial inclusion and expanding digital banking services."

Al Baraka Bank Egypt continues to implement its integrated strategy, which combines geographical expansion with digital transformation, through continued investment in developing its technological infrastructure and expanding its services to meet the evolving needs of customers. With this opening, the bank is steadily progressing toward its expansion plan, aiming to increase its branch network to 48 branches by the end of the current year. The bank's plans also include upgrading 8 existing branches, alongside expanding its network of business centers dedicated to serving small and medium-sized enterprises, bringing the total number of business centers to 19 by the end of the current year.

In the same context, the bank continues to reaffirm its ongoing commitment to customers and to supporting financial inclusion efforts, in line with the directives of the Central Bank of Egypt, through integrated services that keep pace with the latest global banking systems while adhering to the principles of Islamic banking.

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