Emirates NBD Egypt Grants USD 20 Million Medium-term loan agreement with PICKAlbatros Group

Cairo, 25 November 2025:

Emirates NBD Egypt announced the signing of USD 20 million medium-term loan agreement with PICKAlbatros Group to support the group’s expansion plans. This agreement aligns with Emirates NBD’s strategy to support vital sectors that contribute to economic growth, particularly the tourism sector, which is considered one of the most important sectors driving economic development.

The signing ceremony was attended by executive leaders from both entities, headed by Mr. Amr El-Shafei, CEO and Managing Director of Emirates NBD Egypt, and Mr. Kamel Abu Ali, Chairman of the Board of Directors of Pickalbatros Group, in the presence of Tamer Ragheb, Head of Corporate and Institutional Banking Emirates NBD, Amir Hegazy, Head of Commercial banking at Emirates NBD, and Mostafa Allam, Regional CFO at PICKAlbatros Group, and Mohamed Badr, Regional Head -East Cairo, and Ahmed Morshedy, Head of Business Center Emirates NBD.

Kamel Abu Ali, Chief Executive Officer of AlBatros Group also commented: “We are pleased to collaborate with Emirates NBD – Egypt to expand the supply of hotel rooms in Egypt’s prominent tourist destinations: Hurghada, Marsa Alam, and Sharm El Sheikh”
Tamer Ragheb, Head of Corporate and Institutional Banking at Emirates NBD Egypt, stated: “This agreement comes in line with the bank’s commitment to supporting the tourism sector as one of the main drivers of the national economy and a major source of income with foreign currency.”

Amir Hegazy, Head of Commercial Banking at Emirates NBD Egypt, added: “This cooperation reflects the mutual trust between the two institutions and opens new horizons for expanding investments in domestic and international tourism, while developing new projects that contribute to enhancing Egypt’s position as a leading tourist destination in the region.”
This financing agreement reflects Emirates NBD’s commitment to providing innovative financing solutions that support investments in the tourism sector, in line with Egypt’s strategy to bolster the national economy through partnerships between both the financial and investment sectors. This ensures sustainable development and growth of new opportunities.

In this context, on the other hand, there are many related sector news items that you can follow. For example, we highlight the most important ones in the following list:

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