aiBANK has announced a comprehensive rebranding, unveiling its new brand name and identity as Bank NXT. The strategic move, which was announced on September 30, 2024, aims to usher in a new era of growth, digital innovation, and customer-centric solutions tailored to meet the evolving needs of individuals, SMEs, and corporate clients.
“This rebranding goes beyond changing our name and brand identity; it also symbolises the quality of our offerings, which we tend to launch soon to target new customer segments,” said Tarek Kabil, Chairperson of Bank NXT. “Such offerings reflect our innate vision to position ourselves among the top ten banks in Egypt in terms of return on equity and return on assets in the next five years.”
Kabil also highlighted that the rebranding marks the start of a new chapter for the bank. “Over the past three years, we have grown thanks to the support and trust of our shareholders in our new strategy, which has driven growth and increased profitability,” he said.
“The bank is committed to maintaining high governance standards and solid banking practices while addressing all current challenges proactively and improving our digital infrastructure. This helps us secure an improved market share and stay up-to-date with the latest digital solutions in the banking sector.”
Minister of Planning, Economic Development, and International Cooperation Rania Al-Mashat, as well as Chairperson of the National Investment Bank and the Sovereign Fund of Egypt (TSFE), emphasised the significance of the rebranding.
“This initiative is a key part of our vision to create opportunities for the private sector while maximising the value and returns from state-owned assets,” she said. “Ultimately, this approach supports the goals outlined in the State Ownership Policy Document, which aims to enhance economic growth across the nation.”
Tamer Seif, CEO and Managing Director of Bank NXT, emphasised the bank’s commitment to long-term goals. “Our successful implementation of a robust growth strategy—marked by an expansion of our geographical footprint and a commitment to digital transformation—demonstrates our adaptability,” he said.
“The evolution of our new corporate identity, a result of a meticulous two-year collaboration with leading branding experts, not only reflects our dedication to our clients but also embodies our future aspirations. We are committed to being an institution that aligns with the needs of our existing and new customers and embodies their trust in us. This transformation is also a comprehensive overhaul of our services, ensuring speed and precision while translating our vision into reality.”
“Bank NXT is set to bring about changes in the banking industry with a fresh vision and commitment to improvement,” Seif said. “The bank’s rebranding is more than just a new name; it’s a complete update of its strategy and values. This change is designed to support growth, digital innovation, and customer-focused solutions that address the needs of individuals, small businesses, and corporate clients, while also encouraging positive economic developments.”
Karim Awad, Group CEO of EFG Holding, commented, “Today marks a pivotal moment in our journey as we unveil Bank NXT, a true reflection of our aspirations for a new phase of growth for our commercial banking arm. This transformation is underpinned by our steadfast commitment to flexibility, speed, ease, and operational excellence.
Since the significant changes in its shareholder structure in 2021 and the infusion of new capital, Bank NXT has demonstrated its ability to adapt to the evolving landscape of the Egyptian banking sector. By proactively understanding and responding to our customers’ needs, we are not just meeting expectations—we are pioneering tailored solutions that align with their aspirations.”
This decision reflects the bank’s strong commitment to creating a meaningful impact and fostering growth that aligns with the evolving economy of the future. By embracing this vision, the bank aims to play a pivotal role in supporting its clients and communities as they navigate the changing financial landscape.
