back Back

Crédit Agricole Egypt renews partnership agreement with Visa

By Pavithra R

July 12, 2021

Share

Credit Agricole Egypt SAE, an Egypt-based bank engaged in the provision of corporate banking, retail, and investment banking services in the Arab Republic of Egypt and foreign countries, signed a new five-year partnership agreement with Visa, extending their 17-year cooperation in providing card payment solutions.

Crédit Agricole Egypt was represented by the Managing Director, Jean-Pierre Trinelle, and Deputy Managing Director, Walie El-Din Lotfy, while Visa was represented by Ahmed Gaber, Visa’s General Manager for North Africa, and Malak El Baba, Visa’s Country Manager for Visa Egypt, according to a statement on Sunday.

“We are proudly extending our 17-year cooperation with Visa to open up new horizons in cards payment services and thus further meet our clients’ needs and expectations,” said the bank’s Managing Director, Jean-Pierre Trinelle.

Crédit Agricole Egypt is a subsidiary of the Crédit Agricole Group, a market leader in Universal Customer-Focused Banking in France and one of the largest banks worldwide. Since its launch in 2006, Crédit Agricole Egypt has succeeded to become a strong player on the economic scene, positioning itself as the Reference European Bank in Egypt.

During the first quarter of 2021, the bank logged net profits of EGP 378.52 mn, down from EGP 439.96 mn in Q1-20. The net interest income retreated to EGP 1.25 bn in the January-March period, compared to EGP 1.36 bn in the year-ago period.

Malak El Baba, Visa’s Country Manager for Egypt, noted that the renewed cooperation will enable them to continue offering more innovative digital payments solutions to the bank’s cardholders.

Established in 1958, Visa is a global payments technology company working to enable consumers, businesses, banks, and governments to use digital currency. Its advanced global processing network, VisaNet, provides secure and reliable payments and can handle more than 65,000 transaction messages a second.

Previous Article

July 12, 2021

Tide raises $100 mn in Series C funding at a valuation of $650 mn

Read More
Next Article

July 12, 2021

Al Baraka Islamic Bank to launch instant debit card issuance

Read More

IBSi Prime News

The Weekly Wrap

January 21, 2022

The Weekly Wrap: all you need to know by Friday COB | Jan 21st

Read More
  • Daily insightful news analysis
  • Weekly snapshots of industry deals, events & insights
  • Sectoral deep dives on the hottest FinTech trends
  • Exclusive interviews featuring c-level executives who are shaping the industry
  • Profiles of the most influential established and emerging companies in the sector
  • Weekly global FinTech use cases
  • Chart of the Week curated by IBSi’s Research Team
Subscribe to Prime

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

January 21, 2022

Banque du Trésor upgrades agreement with Capital Banking Solutions

Read More

January 19, 2022

Allica Bank selects SaaScada to deliver innovative products to its customers

Read More

January 17, 2022

Zaggle appoints Sathish N as Chief Product Officer

Read More

Related Reports

Sales League Table Report 2021

£1,500 / year

Know More
Applications of Artificial Intelligence In Banking 2021

£500

Know More
Global Digital Banking Vendor and Landscape Report Q4 2021

£1,500 / year

Know More
Wealth Management & Private Banking Systems Report Q4 2021

£1,500 / year

Know More
Treasury and Capital Markets Systems Report 2021

£1,500 / year

Know More