1:57 AM, March 1, 2024

A driving force in the Egyptian economy

| The European |

An interview with Tarek Fayed, Chairman and CEO of Banque du Caire

Founded in 1952, Banque du Caire (BdC) is one of Egypt’s oldest and largest banks. It is a multi-award winning, full-service bank that provides a diverse range of products to the corporate and retail markets.

BdC’s long-standing presence in the Egyptian market has seen it drive economic growth for decades, with the bank having extended financing to corporations across numerous key sectors of the Egyptian economy.

The European caught up with Tarek Fayed, Chairman and CEO of Banque du Caire to focus on the bank’s Treasury & Capital Markets Group.

We understand Banque du Caire’s Treasury & Capital Markets Group has performed extremely well over recent years. Expand on this please.    

Tarek Fayed: The performance of the Treasury & Capital Markets Group has been remarkable. Total capital markets profits increased by 100% year-on-year compared to 2019 to 2018.

We have enhanced our treasury products by launching derivatives products and refurbishing the process for FX forwards, along with boosting the product awareness for all those on the front-line across BdC’s business segments. Not to mention introducing non-estimated growth profit (EGP) securities to the treasury set of investments. Moreover, our upgraded treasury infrastructure and systems have proved vital to our day-to-day efficiency. We have introduced cutting-edge trading platforms, which has strengthened the bank’s price discovery and market outreach.

Finally, in alignment with our strategy to attract the most skilled banking professionals, the Treasury & Capital Markets Group has recruited seasoned, high-calibre personnel and adopted an international approach to its training.

Your efforts have resulted in four awards from The European. Describe what this means to you and the company.

TF: The recognition the Treasury & Capital Markets received was a result of a new strategy put in place by the management in 2018 to completely revamp BdC, aiming to position the bank among the top tier in Egypt. Over the past couple of years, we have been working on implementing our new strategy to increase the market share of the Treasury & Capital Markets. We also aimed to increase the products we offer our clients to include derivative products, and increase the bank’s international presence as well as market outreach.

As a result, the Treasury & Capital Markets Group’s year-on-year profit increased by 100% and the total bank’s profit increased by 59%. We are proud to have received this recognition for our hard work and achievements. ν

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