al watany bank of egypt industry banking founded 1 may 1980 ; 36 years ago 1980 05 01 headquarters cairo egypt key people chairman shaikha khaled el bahr managing director yasser hassan 1 products financial services website awb official website the al watany bank of egypt is an egyptian bank and a subsidiary of the national bank of kuwait . 2 the al watany bank of egypt was founded in may 1980 by several egyptian businessmen as a joint stock company under the provisions of law 43 1974 with two branches in cairo . 3 it grew in a promising economy and gradually established a reputation as the leading bank for small and medium size businesses within the egyptian market . 3 in august 2007 the national bank of kuwait nbk acquired a 51 % stake in al watany for us 516 million . 4 5 the offer was extended to other shareholders and by october 2007 the national bank of kuwait had acquired a total of 93.77 % stake in the bank for a cost of over us 900 million by october 2007 . 5 the purchase marked the entry of the national bank of kuwait into the egyptian market for the first time and represented a significant stage in the bank s strategy of expansion in the region . 6 the bank intended to triple the number of branches in five years and turn al watany into egypt s third largest retail bank . 7 the al watany bank of egypt made a net profit of 243.6 million egyptian pounds us 44.5 million in 2007 a 157 % increase compared to 2006 . 8 9 it posted a profit of 290.6 million egyptian pounds for the first nine months of 2008 a 29.2 percent growth compared to the same period in the previous year . 10 its assets were valued at 14.6025 billion egyptian pounds at the end of the third quarter of 2008 . 10 the bank s authorized and paid capital was 1 billion egyptian pounds distributed on 100 million shares with a par value of 10 egyptian pounds each . it has 41 branches located across egypt from cairo and alexandria to giza mansoura and sohag . see also edit list of banks list of banks in egypt references edit officers and directors for al watany bank of egypt . reuters . retrieved 3 march 2009 . wata profile & executives el watany bank of egypt . bloomberg . retrieved 28 november 2012 . a b sherman william 4 february 2003 . staying the course . the america s intelligence wire . retrieved 3 march 2009 . registration required nbk wins bid for egypt s al watany bank press release . nbk press office . 15 august 2007 . archived from the original on 23 august 2007 . retrieved 3 march 2009 . a b kuwait s nbk acquires 93.77 % of egypt s alwatany bank . middle east times . news world communications inc. 29 october 2007 . archived from the original on 14 february 2008 . retrieved 3 march 2009 . bowman joel 2 april 2008 . nbk buys al watany bank of egypt . arabian business . itp digital . retrieved 3 march 2009 . national bank enters cairo al watany acquisition will pave the way for expansion in retail sector . middle east economic digest . 7 august 2007 . retrieved 3 march 2009 . registration required egypt s al watany bank 2007 net profit rises 157 pct . reuters . 11 march 2008 . retrieved 3 march 2009 . hadfield will 11 march 2008 . al watany bank s profits jump 157 per cent . middle east business intelligence . emap . retrieved 3 march 2009 . a b watany bank of egypt posted 290.6 mln in profit up to q3 of 2008 . arabfinance . 9 november 2008 . retrieved 3 march 2009 . external links edit awb official website retrieved from https en.wikipedia.org w index.php title al watany bank of egypt & oldid 738998841 categories banks of egyptbanks established in 19801980 establishments in egypthidden categories pages with login required references or sources navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 12 september 2016 at 05 52 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you agree to the terms of use and privacy policy . wikipedia is a registered trademark of the wikimedia foundation inc. a non profit organization . privacy policy about wikipedia disclaimers contact wikipedia developers cookie statement mobile view