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Cairo, 18 June 2025:
Bank NXT, a leading provider of integrated retail and corporate banking solutions in Egypt has announced the signing of a cooperation protocol with UiPath, a global leader in intelligent automation solutions, in a strategic step toward digital transformation.
The partnership, executed in collaboration with BMB Egypt, a global solutions provider, innovator and advisor working with top rated technology partners to empower businesses and organizations, through the finest quality of custom-made IT solutions, aims to implement UiPath’s platform to accelerate automation, enhance operational efficiency, and elevate the quality of banking services.
This collaboration reflects Bank NXT’s commitment to achieving the highest levels of institutional performance, improving customer experience, and supporting its broader digital transformation and sustainable growth strategy.
Hesham Daabes, Senior Group Head for Support at Bank NXT, expressed his pleasure in launching the UiPath platform in partnership with BMB Egypt to accelerate the digital transformation of banking services.
He highlighted the fruitful outcomes of adopting innovative solutions through this collaboration, notably the enhancement of institutional performance in managing internal operations with efficiency, accuracy, and speed—aligning with the bank’s vision for agile development and its commitment to delivering an exceptional customer experience.
Daabes added that this agreement has opened new horizons for advanced uses of the world-leading automation platform and maximized the value of this partnership by leveraging global models to advance Egypt’s banking sector. It also contributes to improving service quality, paving the way for continued innovation and growth in the future.
Ashraf El Zarka, Vice President and Managing Director, UiPath Middle East and Africa, said: “We’re excited to witness this landmark deployment of intelligent automation at Bank NXT—one of the fastest adoptions we’ve seen in the region.
With unwavering executive support, led by the CEO and leadership team, and a highly dedicated staff, the foundation for long-term innovation is firmly in place. Phase one focuses on transforming back-office operations and enhancing customer interactions, laying the groundwork for flexible, customer-driven banking services. The future is bright, especially with agentic automation on the horizon.”
Mohamed Mossad, Director of Intelligent Automation and Data Analytics at BMB Egypt, added: “As a strategic partner in intelligent automation and artificial intelligence, we’re proud to support Bank NXT in this pivotal project. From day one, the bank has demonstrated a forward-thinking approach, enabling seamless technology integration, faster product enablement, and real-time value delivery to internal teams.
We’re confident that intelligent automation will drive transformation across Egypt’s banking sector, ushering in an era of speed, innovation, and sustainable growth. We remain committed to scaling automation, adopting AI technologies, and helping our partners lead transformation, not just keep pace with it.”
Bank NXT is executing an ambitious roadmap to automate several key operations in the coming period. This initiative is designed to boost institutional performance, deliver genuine added value to customers, and reinforce the bank’s leadership in banking innovation across Egypt.
About Bank NXT
Bank NXT (formerly known as aiBANK) was established in 1974 as an investment and business bank and commenced its activities under the supervision of the Central Bank of Egypt in 1978 with a capital base of USD 40 million, which was later increased to EGP 1,987 million in 2020. Moreover, as per the decisions of the general assembly held on the 10th of October in 2021, and after the completion of the Bank’s acquisition deal, the Bank received approval to increase its paid-up capital to EGP 5,000,000,003 and adjusted its ownership structure accordingly to accommodate both new and existing investors, as per the following:
EFG Holding S.A.E – (51%)
Egypt’s Financial Services and Digital Transformation Sub-Fund – (25%)
National Investment Bank – (24%)
Additionally, based on the General Assembly decision dated March 24, 2024, a further capital increase was approved, bringing the total to EGP 5,400,000,006.
The Bank offers banking services for individuals through its wide spectrum of retail banking products in addition to its corporate banking services for businesses and institutions through providing loan syndication services to companies and institutions looking to finance large national projects that support the economy and the Bank.
The Bank is keen on supporting the growth of small and medium enterprises, which play a crucial role in Egypt’s overall economic and social development, as well as, providing investment and treasury services.
The Bank offers its services to its customers through its 35 branches nationwide.
It is constantly working on expanding its geographical presence by opening new branches, with two new branches set to open this month. In addition, the bank is expanding its ATM network to ensure that it covers all key locations. The Bank is also committed to satisfying its customers by providing unique and competitive services and investing in its tech systems and human capital to improve the overall level of its banking services.
About EFG Holding:
EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a financial institution that boasts a remarkable 40-year legacy of success in seven countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) — the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes.
EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity.
In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a provider of innovative and integrated financial solutions for small business owners and entrepreneurs, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, Bedaya for mortgage finance, Kaf for insurance, and EFG Finance SMEs, which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt.
Learn more about us at www.efghldg.com
Note on Forward-Looking Statements
In this press release, EFG Holding may make forward-looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Holding’s belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management’s control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending, and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.
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Bank NXT Achieves Record Net Profit of EGP 1.77 Billion Reflecting Robust Performance in 2024
Bank NXT Joins Forces with Red Hat to Boost Operational Efficiency and Customer Experience
