Cairo, 17 January 2010
NBK Capital announced the opening of its newest office in Egypt during a ceremony held in Cairo. The Egypt branch has launched as "NBK Capital Asset Management", and the ceremony to commemorate the occasion was conducted in the presence of leading Egyptian economic figures as well as representatives from NBK, Al Watany Bank, and NBK Capital.
NBK Capital Asset Management has been established as a joint venture between NBK Capital and Al Watany Bank in Egypt. The event also announced the launch of “Ishraq Fund”, the first fund to be managed by the newly established office.
On this occasion, Mr. Salah Al Fulaij, CEO of NBK Capital noted that NBK Capital Asset Management hopes to establish itself as a strategic partner to meet the aspirations of Egyptian companies, institutions, and investors. He also stressed the importance of establishing a presence in the Egyptian market, which is a major strategic market with a very promising future. Mr. Al Fulaij also noted that the Egyptian economy, according to most expert analysts and rating agencies has seen many serious reforms and positive developments at the economic level, most notably the banking and financial systems. He stated, "We are confident that our presence in Cairo will allow us to become a greater force in the regional market and will be another milestone in our continued success following being named ‘Best Investment Bank in the Middle East in 2009’."
Entering the Egyptian market is a new step in the strategic growth of NBK Capital, with offices in Kuwait, Dubai, Istanbul and now in Cairo. The company was founded in 2005 and focuses on four principal lines of business: Alternative Investments, Asset Management, Brokerage & Research and Investment Banking. NBK Capital’s team of more than 150 professionals offer superior products and services to clients and investors.
NBK Capital’s previous involvement in Egypt includes one of its most important and biggest deals where the company acted financial advisor to National Bank of Kuwait in the acquisition of Al Watany Bank of Egypt.
