Bank Audi Egypt

Key details

• Launch: 1978

Overview

Bank Audi Egypt is Egyptian commercial bank consolidated into FAB Egypt + First Abu Dhabi Bank FAB ADX: FAB ~100%+ controlling acquisition Apr 5 2022 + Apr 16 2024 FAB Egypt rebrand absorbing Bank Audi Egypt + founded 1978 in Cairo Egypt as American Express Bank Egypt then 2006 Bank Audi acquisition + Bank Audi Egypt rebrand [1, eg-cro].

History

1978 — American Express Bank Egypt founded in Cairo Egypt as Egyptian-American Express joint commercial bank.

2006 — Bank Audi acquisition + Bank Audi Egypt rebrand consolidating American Express Bank Egypt into Bank Audi Lebanese parent BSE: AUDI Egyptian subsidiary.

Apr 5 2022 — First Abu Dhabi Bank FAB ADX: FAB UAE parent acquires Bank Audi Egypt from Bank Audi Lebanese parent for ~$601M ~100% controlling distinctive Egyptian-UAE banking consolidation.

Apr 16 2024 — FAB Egypt rebrand absorbing Bank Audi Egypt into FAB Egyptian commercial banking subsidiary.

Ownership & operator

Operating entity: Bank Audi Egypt SAE (Egyptian commercial bank consolidated into FAB Egypt post-Apr 16 2024 FAB Egypt rebrand).

Major shareholders: First Abu Dhabi Bank FAB (ADX: FAB; UAE parent) ~100%+ controlling.

Regulators: Central Bank of Egypt CBE + Central Bank of UAE CBUAE via FAB parent (post-Apr 16 2024 FAB Egypt absorption).

Technical integration

Bank Audi Egypt mobile app discontinued + bankaudi.com.eg discontinued (consolidated into fab.com Egypt + FAB Egypt mobile app post-Apr 16 2024 FAB Egypt rebrand) + Bank Audi Visa + Mastercard + Meeza Egyptian national card scheme cards transitioned to FAB Egypt; Meeza national card scheme + Meeza QR (Egyptian national QR payment scheme) + Egyptian Pound EGP domestic transfers.

Implementations & partners

Successor entity: [[fab-egypt]] (FAB Egypt; First Abu Dhabi Bank Egyptian subsidiary; FAB UAE parent ~100%+ controlling).

Major Egyptian banking + payments competitors: [[nbe-egypt]] (National Bank of Egypt NBE; Egypt's largest commercial bank by assets) + [[cib-egypt]] (Commercial International Bank CIB; CASE: COMI) + [[banque-misr]] (Banque Misr) + [[qnb-alahli]] (QNB Al Ahli Bank Egypt; QNB Qatari parent ~95%+ controlling) + [[aaib-egypt]] (Arab African International Bank AAIB) + [[hsbc-egypt]] (HSBC Egypt; HSBC Holdings British parent ~95%+ controlling).

Regulators: Central Bank of Egypt CBE + Central Bank of UAE CBUAE via FAB parent (post-Apr 16 2024 FAB Egypt absorption).

Status

Integrated into FAB Egypt, Egyptian commercial bank consolidated into FAB Egypt + First Abu Dhabi Bank FAB ADX:FAB ~100%+ controlling acquisition Apr 5 2022 + Apr 16 2024 FAB Egypt rebrand absorbing Bank Audi Egypt + founded 1978 in Cairo Egypt as American Express Bank Egypt then 2006 Bank Audi acquisition + Bank Audi Egypt rebrand [1, 2].

Sources

• 1 Audi Egypt — historical
• 2 Audi — Wikipedia
• eg-cro In-corpus: reports/countries/EG-egypt.md

Source

Biography extracted from audi-egypt.md. See matrix.md for standards-support matrix if present.