Al Ahly Exchange Company, owned by the National Bank of Egypt (NBE), has raised the number of branches to seven in Cairo, Minya, and Mansoura. Hisham Okasha, chairperson of the board of directors of the NBE, recently opened the new branch in Mokattam, in the presence of Yehya Aboul Fotouh, vice chairperson of the NBE; Abdul Mageed Mohieddin, chairperson of the company; and Nabil Fouad Ezz El Din, managing director of the company. According to Okasha, Al Ahly Exchange was opened in 2017 to expand and complement the financial services provided by the bank to the people of Egypt, especially in the wake of the exchange rate liberalisation. Okasha stressed the keen interest of the NBE to expand its non-banking financial activities and its leadership in this field. The bank previously established Al Ahly Capital Holding, the investment arm of the NBE, along with Al Ahly Real Estate Finance Company and Al Ahly Financial Leasing Company, in addition to contribution in many other companies, such as Al Ahly Medical Services, and Al Ahly for Land Reclamation and Agriculture. According to Mohieddin, the branch in Mokattam is the seventh branch to be opened, following six branches: Makram Ebeid, Mustafa Al-Nahas, Wadi El Nil, Ahmed Orabi, Beni Mazar in Minya, and Mansoura. He added that a comprehensive ambitious plan has been prepared to increase the company's presence in all parts of Egypt, including Upper and Lower Egypt, as well as Cairo, Alexandria, and the Suez Canal area.
