This rebranding marks the complete integration of Ahli United Bank Egypt into the KFH Group and solidifies its commitment to Islamic banking principles, according to a press release.
Kuwait Finance House (KFH) has officially entered the Egyptian market following the successful acquisition of Ahli United Bank Bahrain in 2022, announcing the rebranding of Ahli United Bank – Egypt to Kuwait Finance House – Egypt (KFH Egypt).
This rebranding marks the complete integration of Ahli United Bank Egypt into the KFH Group and solidifies its commitment to Islamic banking principles, according to a press release.
KFH Chairperson Hamad Al-Marzouq expressed his enthusiasm for the bank's new chapter in Egypt, highlighting the importance of this expansion, stating “We are delighted to establish our presence in Egypt, a key market, through the launch of the new identity for Ahli United Bank – Egypt. As of today, it officially becomes Kuwait Finance House – Egypt, a landmark step that will strengthen the country’s Islamic banking sector and contribute to economic growth.”
Al-Marzouq also emphasized KFH's solid foundation and extensive experience, noting that the bank is the largest in Kuwait by market value, with a market capitalization of around KWD 13 billion. The bank operates across 12 countries, including Kuwait, Bahrain, Turkey, Egypt, Germany, and the UK, making it the world's second-largest Islamic bank.
Focusing on innovation and operational efficiency, KFH Egypt aims to enhance customer experience through Sharia-compliant products and services. The bank's slogan, “Horizons Without Limits,” embodies its commitment to embracing digital transformation and its leadership in the Islamic finance sector, the company explained in its release.
KFH Egypt’s CEO, Hala Sadiq, highlighted that the rebranding represents more than just a change of name, but a full integration into the internationally renowned KFH Group.
Existing customers will see no changes to their agreements, as KFH Egypt assured that all contractual terms will remain intact until the maturity of financing agreements, without additional costs or burdens.
In terms of financial performance, the bank reported strong growth in 2024. The bank’s net consolidated profits surged by 65%, reaching EGP 5.5 billion, up from EGP 3.3 billion in 2023. Total assets grew by 29%, hitting EGP 144 billion, while net income from returns increased by 52.4%, to EGP 7.6 billion.
With a network of 44 branches across Egypt, KFH Egypt is set to further its expansion across the country.
