Arab African International Bank (AAIB) signed an agreement Tuesday to take over Canadian Scotiabank's product portfolios in Egypt.
The signing ceremony was attended by AAIB Chief Executive Officer Hassan Abdalla and Scotiabank's Senior Vice President Firdos Somji.
Upon the agreement, the Scotia's current customers will get services from the AAIB branches in Egypt and worldwide.
Abdalla asserts the AAIB's commitment to highest level of service quality extended to Scotiabank's customers.
Scotiabank offers a diverse range of products and services including personal, commercial, corporate and investment banking. Scotiabank operates as a full service branch in Egypt.
The AAIB by a Special Law is a Joint Venture between the Central Bank of Egypt (CBE) and Kuwait Investment Authority (KIA), and was incorporated in 1964 as Egypt's first Arab multinational Bank.