Banque du Caire is a
bank in
Egypt, founded in 1952. It has a variety of services and products across the corporate and retail segments.[1]
The bank has worked on the institutionalization of microfinance across banks to promote
financial inclusion.[citation needed] It also operates
digital banking frameworks for both
retail and corporate clients. The bank launched a corporate leasing venture in 2018, Cairo leasing Corporation (CLC). Banque du Caire also offers access to
COMESA markets through Cairo International Bank, its
Ugandan subsidiary.[2][1]
In addition, it runs a representative office in the
UAE. The bank has [when?] 241 branches and 1,046 ATMs across
Egypt and serves more than 3.2 million clients.[citation needed]
1952 — Several wealthy families, chief among them, the Egyptian Jewish Cattaui dynasty, and the wealthy Jewish banking
Sassoon family from Aleppo established Banque du Caire (BC) as a private bank.
1957 — BC took over the Egyptian operations of
Crédit Lyonnais and the
Comptoir National d’Escompte de Paris (CNEP). which later became
BNP Paribas, after the Egyptian government nationalized all French and English banks (and later all foreign banks) in the wake of the
Suez crisis. The bank viewed this step as a major milestone in its growth. [3]
1963 — The Syrian government nationalized BC's branches there, incorporating them into
Banque de l’Unité Arabe (Bank of Arab Unity; est. 1961).
1964 — BC absorbed Banque de l’Union Commerciale (ex Credit Orient).
1975 — BC contributed its five branches in Saudi Arabia to
Saudi Cairo Bank for a 40% share, pursuant to Saudi Arabia's nostrification program. That same year, BC (51%) joined with
Barclays Bank (49%) to form Cairo Barclays International Bank.
1977 — BC joined with
Banque Nationale de Paris (a successor to CNEP) to form Banque du Caire et de Paris.
1978 — BC joined with several Korean banks and other investors to found Cairo Far East Bank.
Korean Exchange Bank was the largest shareholder with 32% and other Korean banks held 17%. BC owns 19%.
1983 — Cairo Barclays International Bank changed its name to Banque du Caire Barclays International.
1988 — Saudi Cairo Bank required recapitalization following difficulties, including earlier unauthorized speculation in precious metals by senior management. BC's share position fell to 20%.
1997 — Saudi Cairo Bank merged with United Saudi Commercial Bank to form
United Saudi Bank. BC's share position fell to 9.8%.
1999 — Ownership of Banque du Caire et de Paris became BNP 76% and BC 22%. United Saudi Bank merged into
Saudi American Bank. BC established representative offices at
Kyiv in the
Ukraine and
Harare in
Zimbabwe. Barclays increased its stake in Banque du Caire Barclays International to 60% by buying an additional 11% from Banque du Caire.
2000 — Barclays bought out Banque du Caire's stake in Banque du Caire Barclays International.