“As part of the collaboration, Bank NXT will migrate its ATM and debit
card portfolio to Network’s end-to-end processing platform, enabling
more streamlined operations, strengthening security controls, and
enhanced customer experience”
CAIRO, Egypt, October 12, 2026/ — Bank NXT, a leading provider of
integrated retail and corporate banking solutions in Egypt, announced
the extension of its collaboration with Network International
(www.Network.ae/en [7]) (Network), a leading fintech company in the
Middle East and Africa, to accelerate the digitalization of its payment
services and further modernize its payments infrastructure.
As part of the collaboration, Bank NXT will migrate its ATM and debit
card portfolio to Network’s end-to-end processing platform, enabling
more streamlined operations, strengthening security controls, and
enhanced customer experience.
The agreement underscores Bank NXT’s strategic commitment to advancing
its payments infrastructure in partnership with Network. Migration
supports the Bank’s expansion agenda by building trust among existing
and new customers.
The partnership comes at a significant time, as Egypt’s banking sector
is undergoing a rapid digital transformation, driven by the Central Bank
of Egypt to foster a thriving digital economy.
Tamer Seif El-Din, CEO and Managing Director of Bank NXT, said: “Our
collaboration with Network International is a cornerstone of Bank
NXT’s strategy to modernize our payments infrastructure and better
serve our customers. Migrating our debit card and ATM portfolio to
Network’s robust processing platform will enable us to achieve greater
operational efficiency, introduce innovative services faster, and
ultimately, provide a seamless, secure, and digitally advanced banking
experience. This collaboration reaffirms our commitment to leveraging
cutting-edge technology to drive our strategic expansion and meet the
evolving needs of the Egyptian market, contributing significantly to the
nation’s digital transformation.”
Dr. Reda Helal, Group Managing Director – Processing, Africa & Growth
Markets at Network International, commented: “We are excited to work
alongside Bank NXT, especially as the nation continues its digital
transformation journey. This collaboration underscores our commitment to
expanding our geographic footprint and supporting the digital evolution
of banks across the MEA region. By providing our expertise and
end-to-end processing capabilities, we are enabling Bank NXT to scale
their services effectively, while contributing to Egypt’s strategic
financial goals. This is a testament to our leadership and value
proposition in payments modernisation and our dedication to fostering
growth for our partners.
Through this partnership, Bank NXT continues to strengthen its
infrastructure and enhance its capacity to deliver scalable, secure, and
future-ready financial services.
_Distributed by APO Group on behalf of Network International. _
Media Queries:
Network International
Corporate Communications
Tel: +9714 303 2431
Anusuya.George@network.global
Bank NXT:
Reham Abbas
Head of Public Relations and Corporate Communications of Bank NXT
rabbas@banknxteg.com
EFG Holding:
May El Gammal
Group Chief Marketing & Communications Officer of EFG Holding
melgammal@efghldg.com
Omar Salama
Associate Director of Communications of EFG Holding
osalama@efghldg.com
The EFG Holding Public Relations Team
PublicRelations@efghldg.com
About Network International:
Network International is the Middle East and Africa’s leading fintech
company. Our purpose is to help businesses and economies grow by
simplifying payments and commerce. We serve a diverse ecosystem of
banks, fintechs, telcos, merchants, governments, and public sector
entities spanning 50+ countries – empowering our partners with
innovative technology, value-added services, and deep expertise in
payment systems and infrastructure. Our 3,000+ team strength on the
ground works closely with 250+ financial institutions and 240,000+
merchants to deliver reliable, scalable, and future-ready payment and
fintech solutions across the region.
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.
The bank has witnessed continuous capital growth, reaching EGP 1.9
billion in 2020. Moreover, as per the decisions of the general assembly
held on October 10, 2021, and after the completion of the Bank’s
acquisition deal, the Bank received approval to increase its paid-up
capital to EGP 5 billion 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
5.4 billion
Furthermore, based on the General Assembly decision dated March 20,
2025, a further capital increase was approved, bringing the total to EGP
5.7 billion.
On August 17, 2025, the Bank’s Board of Directors, in accordance with
the authorities granted to the Board, approved a cash increase to the
Bank’s issued and paid-in capital amounting to EGP 4.2 billion,
bringing the total issued and paid-in capital after the increase to EGP
9.9 billion, through the issuance of new shares to existing shareholders
in proportion to their current shareholdings, without any change to the
ownership structure.
The Bank offers banking services for individuals through its broad
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 37 branches
nationwide. It is constantly working on expanding its geographical
presence by opening new branches. 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 by investing in its technology systems and
human capital to improve the overall quality of its banking services.
Learn more about us at www.BankNXTeg.com [8]
About EFG Holding:
EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a financial institution that
boasts a legacy of more than 40 years 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 micro and 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.
Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait
| Bahrain | Kenya | Nigeria
Learn more about us at www.EFGHolding.com [9]
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.
