CAIRO: Visa Sunday granted two awards of excellence to Barclays Bank Egypt during a press conference at the Four Seasons Nile Plaza. The awards granted included one for Fastest Growing Credit Card Portfolio and another for Superior Customer Service Cycle, and were given in recognition of the marked increase in number of issued credit cards and increased volumes achieved by Barclays while maintaining quality customer service. Visa's Awards for Excellence are given to outstanding companies in various fields on an annual basis. "Barclays Egypt achieved great results in the credit card sector. We started 2007 with less than 10,000 cards and have expanded to reach more than 100,000 cards by the end of 2008. "These awards are a testament to the confidence customers have vested in our commitment to serve them with the best in class products and services, said Bassel Kelada, head of retail banking at Barclays Egypt, commenting on the awards. Representatives from both Visa and Barclays Egypt were in attendance at the event, including Tarek El-Housseiny, Visa's general manager for North and West Africa, Khalid El-Gibaly, managing director of Barclays Bank Egypt, and Kashif Soheil, head of credit cards and retail assets at Barclays Egypt. El-Housseiny and El-Gibaly addressed the audience, speaking about the history of cooperation between Barclays Egypt and Visa, and their hope for more positive collaboration into the future. El-Housseiny emphasized the importance of Visa's partnerships with local banks. "Visa greatly values the relationships we forge with our partner banks and our work with Barclays Bank Egypt over the past 10 years is evidence of the success that such partnerships can bring, he said. For his part, El-Gibaly highlighted the growing importance of credit cards in Barclays Egypt's strategy. "Barclays has managed over the last two years to achieve an extensive expansions strategy, particularly in its offering of products. The cards sector is one of the most important sectors in retail banking, which greatly contributes towards boosting purchasing power and eventually benefits the entire Egyptian economy, he said. El-Gibaly went on to explain that the exceptional growth in Barclays Egypt's credit card portfolio is part of a comprehensive plan for expanding the bank's retail sector, and that the bank is committed to investing in infrastructure and expertise to achieve this goal. He added that Barclays is also determined to expand its activities in the Egyptian market and to provide more innovative products while working to raise awareness about the importance of credit cards for economic growth. El-Housseiny also pointed out the growing importance of the credit card industry in Egypt and the potential for continued cooperation it presents. "As Egyptian consumers continue to become more sophisticated banking customers, the benefits of payment cards-simplicity, convenience and safety-will become even more apparent. Visa is committed to continuing our close cooperation with Barclays Bank Egypt to provide value-add for cardholders in the future, he said.
