THANK YOU Dante

Dear Colleagues,Having our Group’s Results being published during the month of May, it’s time to use my space in Closer to look into our 1st quarter 2018 results which, as usual, can give us the tone of our path towards the achievement of the set targets for the year.As usual, I would open with some indications on Intesa Sanpaolo Group’s Q1 2018 results, which were extremely positive despite the market environ-ment in Europe is remaining extremely challenging. In Q1/2018 ISP Group recorded in fact a total net profit of Euro 1.25 bln (EGP 26 bln), against Euro 901 million of Q1/2017 (+39%). The bottom line extremely positive result, is the synthesis of a good performance in all the Group’s Business Units, which resulted in an enhanced level of both Interest Margin and Fees Gen-eration, the latter achieving its all-time best quarter outcome. This, coupled with a decrease recorded in the operating costs (-1.3%), has allowed to improve the cost/income ratio to 47.8% from the previous 55%. The Group’s balance sheet remains extremely solid further improving its fundamentals, with a strong decrease of NPLs, both gross and net, and a sound excess capital by far above the peer average. These results confirm once more our Banking Group at the top of the European league.As usual Alexbank has given its contribution, operating in an environment that remained benign even if somehow different from what projected, principally due to a slower than expected interest rates reduction which, if from one side sustains our interest margin formation, on the other is keeping the Corpo-rates borrowing appetite still at a soft level, impacting on our assets growth.To be also highlighted that new accounting principles applied on the Treas-ury bonds/bills portfolio’s and deposits placed at the Central Bank of Egypt evaluation according to IFRS terms but not yet as per Egyptian Accounting Standards (EAS) , have created a temporarily big gap between IFRS and EAS net results, matter that will be anyway partially absorbed during the year, progressively increasing our actual contribution to the Group’s bottom line (the Groups reporting is aligned to IFRS principles). Anyway, as customary, I am going to comment here below Alexbank’s March 2018 results according to EAS , as this allow us to fully read our performance comparing with the other local banks, which are obviously publishing their results in the same way.As of Q1/2018 Alexbank has achieved a net profit of EGP 809 mln with a progress of EGP 292 mln over 2017 (+56.5%). It’s Alexbank’s all-time best quarter result! Our performance has been sustained by a healthy growth of our Operating Profit which reached EGP 974 mln surpassing Q1/2017 data by EGP 136 mln (+16.2%), mainly driven by Net interest margin (+19.9% in the period) and Fees generation (+5%). This has allowed to contain the impact of the growing costs, as Total Operating Costs recorded at EGP 518 mln (+20% versus 2017), an acceptable level given the inflationary environ-ment, containing the increase of the cost/income ratio at 35.3% in Q1/2018, marginally higher than in 2017 by 1.2%. A very positive note is given by the cost of credit, which in Q1/2018 sus-tained the profit formation thanks to a net reversal of provision for EGP 103 mln against a deduction of EGP 123 mln in 2017 (positive difference of EGP 226 mln). Net profit before taxes increased therefore by 51.9% or by EGP 362 mln to reach EGP 1,060 mln, while taxes on income were at EGP 250

mln, +EGP 70 mln or +38.9% comparing the same period of previous year. As already recently commented, the macro economic scenario has sub-stantially improved in Egypt during the last year and a half, and the outlook of the economy appears quite promising as clearly confirmed by the recent upgrade of the sovereign rating. The loosening of the monetary policy is proceeding however at a slower pace than what forecasted at the end of last year, as despite the evident success in curbing the inflationary pres-sure, the monetary authorities remain prudent considering both external factors, like the macro scenario related to the emerging markets as con-sequence of oil price & US$ interest rates hike, and internal elements like the expected subsidies reduction, which will temporarily affect the pace of inflation rate drop.The market developments appear favorable to us, supporting this phase of ours in which we are working hard to make our operations smoother and more efficient to improve our attractiveness towards the existing and new to bank customers. We are already recognized as innovator having launched products and services which are unique and first appearing on the Egyptian market, and we need to continue on this tone while keep find-ing solutions to enhance our commercial efficacy and continuously improve the customer experience to reach the full satisfaction of our clients. The capability to attract and retain customers and keep them active users of our products, is the challenge we have to win in order to speed up the pace of our operations’ enhancement; and specific initiatives have been taken to make this happen. During the year many projects will be brought to conclu-sion making the operational improvements clearly visible, and we will keep building on any of our new achievements. On this regard let me highlight the strong commitment taken by Alexbank for the operations’ development in the Small Business segment, for which few hundreds of colleagues are currently going through a specific formation with the aim to acquire new skills to better serve the customers and to become acquainted with new tools and solutions that have been made available, and that will become extremely effective when grafted on the new work-flow platform currently still under development, but that will enter soon in production with the launch of a pilot phase. We are eager to enhance our footprint in all the segments we serve and to improve our cross selling capability even cross-segments. The strong growth recorded in the payroll activity is a clear testimony of the increased harmony in the development of our operations, that is based on a team spirit that has grown strong and solid. With all this in mind I am sure that we will keep celebrating many quarters of success and satisfaction for all of us.

CLOSERALEXBANK´S BI−MONTHLY E−NEWSLETTER

1

Thursday31ST MaY 2018

Issue#76

CENTRAL BANK KEEPS KEY INTEREST RATES UNCHANGED

In its meeting of May 17, 2018, the Central Bank of Egypt (CBE) decided to keep the overnight deposit and lending rate unchanged at 16.75% and

17.75% respectively. The discount rate was also kept at 17.25%. The CBE stated that the increase in international oil prices “gained momentum in April

and May 2018, leading to the materialization of an upside risk to the domestic inflation outlook.”

Oil prices hit USD80 a barrel in May 2018 (+50% y/y) due to the accelerating recovery in demand for oil, supported by improving global output growth

rates to 3.7% in 2017 (compared to 3.2% a year earlier) and expectations to further grow by 3.9% in 2018 and 2019. On the supply side, prices have

been affected by supply cuts led by the Organization of the Petroleum Exporting Countries (OPEC) and Russia since January 2017.

For a net oil importing country like Egypt, hikes in international oil prices would lead to an increase in the subsidy bill and fiscal deficit accordingly,

which results in higher inflation rates. These developments may have urged the CBE to be more cautious with easing its tightening monetary policy.

The CBE raised key interest rates by 700 basis points since floating the Egyptian Pound in November 2016 to contain the inflationary pressures

caused by the decision, and then starting 2018, it lowered these rates by 200 basis points.

Another factor that may affect the CBE’s decisions regarding its monetary policy is that with the US short-term interest rates heading toward their

highest levels since the financial crisis in 2008, a period of low interest rates is coming to an end. Hence, most emerging markets need to preserve

the competitiveness of their foreign debt instruments. According to the Institute of International Finance: “Prospects for non-resident capital inflows

to emerging markets this year have deteriorated ... Rising US bond yields and a stronger dollar have prompted a ‘sudden stop’ in portfolio flows since

mid-April.”

For more information please refer to : Samer HalimMarketing Communication, PR & ResearchSamer.Halim@ALEXBANK.com

2

MINISTER OF INVESTMENT HONORS GAFI BRANCH

As part of the plan to enhance GAFI branch, a major branch serving the very important segment of investors, services and processes have been improved to boost customer satisfaction and achieve GAFI’s ob-jective of facilitating company foundation procedures which can be now carried out in less than 20 minutes. Setup time for companies is a key indicator of investment climate.

This is in addition to the facilities introduced by our bank to provide various payment channels to pay the foundation fees, which requires real-time settlement of such transactions to ensure the conclusion of foundation procedures in the shortest time possible. Acknowledging the role of ALEXBANK H.E. Dr. Sahar Nasr, the Minister of Investment and International Cooperation, honored the team of GAFI branch for the outstanding performance and quality of service provided to the inves-tors. The event was attended by a number of GAFI Division Heads and GAFI General Managers.

In this context, it is important to highlight the success of enhancing all aspects of GAFI branch, including one stop shop for all transactions, such as the companies' foundation, capital release, issuing certificates, attracting customers in addition to providing all the required banking services to the customers; a matter which may improve the customer satisfaction resulting in customer retention. Moreover, internal pro-cedures are reorganized, thus reducing customer waiting time at the Branch.

Furthermore, the tendency towards excellence in rendering banking services to customers will be among the main priorities in the coming period. This is in addition to applying GAFI Branch enhancements pro-cess remove plan on all Bank of Alexandria’s branches, optimising and transferring the expertise required for enriching customer experience at branches. This will inevitably result in improving the Bank’s competi-tiveness in the market and realizing customer satisfaction; which will be positively reflected on the increasing the Bank’s performance.

For more information please refer to : Tamer Abdelfattah Head of Branch Network Development OfficeTamer.Abdelfattah@ALEXBANK.com

3

If you want to contribute at the good deeds in Ramadan to help People... it is available to donate simply for More than 30 organization and charity through “Ma7fazty “service, and with no fees during Ramadan for the following institutions:

Baheya / Resala / Magdy Ya3kop / 57357 / Misr El Kheir / Ahl Misr / 500/500)

Subscribe in “Ma7fazty " service without expenses through any branch of the Bank. Only a valid national ID card and a mobile phone line registered with the owner of the national ID card are required.

For any inquiry…. Contact “Ma7fazty” team on the following email Mobile.Payments.Communication@ALEXBANK.com

4

RAMADAN KARIM WITH “MA7FAZTY“

ALEXBANK’S EMPLOYEES DO GOOD!

For more informationClick Here

Date:

Employee Dataبيانات الموظف

Choose from the below NGO/Organization list you wish to participate/donate to

Ramadan Lights Application 2018

Name:

Type of donation

Job / Title:

Ext. / Hotline:

ICL:

Region:

Branch / Division:

Employee Signature:

Mobile:

Free Indebted WomenAmount:

Account number:

/ /

Ramadan Bags Packaging تعبئة شنط رمضان

تحضير وجبات افطار يومية

دفع إلطالق سراح الغارمات

Choose the date: 28th May 2018 4th June 2018

Number of external Volunteers:

Daily Iftar Meals Mention the date:

Number of external Volunteers:

A WORLD OF REAL POSSIBILITIES.

االسم:

28 مايو 2018 4 يونيو 2018التـــاريخ )برجاء اإلختيار(:

التـــاريخ:

القيمة:

عدد المتطوعين الخارجـيين:

عدد المتطوعين الخارجـيين:

رقم الحساب:

توقيع الموظف:

القطاع / الفرع:

الوظيفة \ المسمى الوظيفي:

داخلي / ساخن:

محمول:

رقم الموظف:

المنطقة:

التاريخ:

استمارة أنوار رمضان 2018

/ /

/ / / /

إلشراك ومتنوعة جديدة فرص مجموعة الموظفين في تغيير حياه الناس التي تحتاج

الينا.

مرور عدم تضمن أن شأنها من الجديدة المجموعة هذه ALEXBANK في موظف كل إعطاء دون 2018 رمضان العام هذا نوصي الناس. حياة في فرق إلحداث فرصة ألنها شهرة األقل الحكومية غير المنظمات مع بالتعامل المنظمات أن ALEXBANK حيث لـ تعكس صورة أفضل

غير الحكومية الشهيرة لن تعتبر مساهماتنا مهمة.

A new Variety of life-changing opportunities for employees to take part in changing the lives of people who need us.

That would ensure that Ramadan 2018 does not pass without giving each ALEXBANK employee the chance to make a difference in people’s lives. This year we recommend dealing with lesser known NGOs as it would reflect a better image for ALEXBANK as the renowned NGOs would not consider our contributions as significant.

فعال بشكل المشاركة االسكندرية بنك موظفو يستطيع في كل من تعبئة أكياس رمضان وتوزيعها، ليس فقط دفع الحكومية، غير المنظمة بشأن قرارهم اتخاذ بعد ثمنهم. ALEXBANK لمبادئ يروجوا أن للموظفين يمكن شعار تحمل قمصان ارتداء طريق عن اجتماعيًا المسئولة

البنك والتقاط الصور أثناء مشاركتهم.

Ramadan Bags 2018حقائب رمضان ٢٠١٨

Preparing Daily Iftar Meals for people IN ALEXBANK TENT IN COOPERATION with Masr el Kheir Foundation in Sheikh Zayed(In front of Hyper one mall):

المنظمة غير الحكومية التي نوصي بها: بنك الطعام المصري

عدد الموظفين المطلوبين للتطوع: ٥٠ موظف

العدد التقديري للمستفيدين: ٦٠٠ شخص محتاج

المدة التقديرية للنشاط: يومي ٢٨ مايو و ٤ يونيو ٢٠١٨

Recommended NGOs: Egyptian Food Bank

Estimated no of employees volunteering: 50 employees

Estimated number of beneficiaries: 600 people in need

Estimated duration of activity: 28th May and 4th June 2018

المنظمة غير الحكومية التي نوصي بها: مؤسسة مصر الخير

عدد متوقع من الموظفين: ١٠٠ - ٢٠٠ خالل الشهر بأكمله

العدد التقديري للمستفيدين: ١٨،٠٠٠ وجبة (٦٠٠ يومًيا)

مدة ثابتة للنشاط: ٣٠ يومًا من رمضان

Recommended NGOs: Egyptian Food Bank – Bank el Ta’am el Masry

Estimated number of employees: 100 – 200 during entire month

Estimated number of beneficiaries: 18,000 meals (600 daily)

Estimated duration for activity: 30 days of Ramadan

المنظمة غير الحكومية التي نوصي بها: مؤسسة مصر الخير

حساب مؤسسة مصر الخير : ١٠١١٠١٠٠٠٠٣

العدد التقديري للمستفيدين: ١٠٠ امرأة من الغارمات

مدة ثابتة للنشاط: خالل شهر رمضان حتى يكون المبلغ متاح بحلول

عطلة العيد

Recommended NGOs: Egyptian Food Bank – Bank el Ta’am el Masry

Masr el Kheir Foundation Account : 10110100003

Estimated number of beneficiaries: 100 indebted women

Estimated duration for activity: During Ramadan to be free by Eid

holiday

ALEXBANKOFFICIAL WWW.ALEXBANK.COM

ALEXBANK employees now have the opportunity to actively engage in both Ramadan bag packaging and distribution, not just paying for them. After deciding on the NGO, employees can be actively promoting ALEXBANK socially responsible ideals by wearing t-shirts with our logo and taking pictures during their participation.

موظفي بنك االسكندرية لديهم اآلن فرصة المشاركة في الساعة من ابتداء للصائمين يومي بشكل اإلفطار تحضير يمكن إضافيًا نشاطًا هذا سيكون عصرا. الخامسة أو اليومية وظائفهم إنهاء بعد فيه المشاركة للموظفين

خالل عطالت نهاية األسبوع.

ALEXBANK employees now can participate in cooking and serving Iftar on daily basis for fasting people. This will be some extra activity employees can take part in after finishing their daily jobs or during the weekends time.

لرسم ALEXBANK لموظفي وفريدة جديدة فرصة ابتسامة على العديد من النساء المديونين حاليًا؛ صك يجسد في والضوء األمل وينشر رمضان لشهر الحقيقية الروح

قلوبهم.

A new and unique opportunity for ALEXBANK employees to draw a smile on hundreds of women in debt currently imprisoned for not being able to pay what they owe. A deed that embodies the true soul of Ramadan and spreads hope and light into their hearts

تحضير وجبات االفطار بخيمة بنك اإلسكندرية بالتعاون مع مؤسسة مصر

الخير في الشيخ زايد(امام هايبر وان):

Paying to free indebted women

دفع ديون الغارمات

Bank’s employees standing with bags they completed

Employees having fun packing.

Menna and Tamara, ALEXBANK employees taking a production-line selfie.

The CSR & Sustainable Development Office, as part of its initiative “Ram-adan Lights 2018”, set two dates for the bank’s employees to take part in experiencing firsthand what it feels like to give back to community and help others. On Monday the 28th of May, several of the banks em-ployees participated in the packing of Ramadan bags by volunteering with the Egyptian Food Bank. It was an excellent experience for every-one involved and the volunteers did not want to leave the Egyptian Food Bank’s warehouse after packing nearly 150 Ramadan bags. There is still time for any employee who still wants to participate in Ramadan Lights, just fill in your application and send it to the CSR department at the bank’s head office in 49 Kasr el Nile, Downtown. They’re waiting for you to join the fun of giving.

Menna Abdel Aziz- Risk Analyst, said:

I really enjoyed the experience and I would like to get involved in many more events that involves helping peo-ple as I believe that if someone wants more hope for his future, he should help others to have more hope for their future

Tamara Masoud, Operational Risk Unit, said:

I really enjoyed yesterday experience especially be-cause for me it was a real confirmation for one of my favorite quote which is that the happiest people are not those getting more, but those giving more

Abdel Rahman – Risk Analyst, said:

I cannot do great things, only small things with great love

For more information please refer to : Mariam Nashaat CSR & Sustainable Development Office Mariam.Nashaat@ALEXBANK.com

5

JOINT COOPERATION PROTOCOL SIGNED BETWEEN ALEXBANK AND MINISTRY OF AGRICULTURE UNDER CBE INITIATIVE

ALEXBANK, as leading financial institution, plays a key role in supporting and financing SMEs through its nationwide branch network, and offering financing products that meet the needs of different economic sectors.

ALEXBANK and the Ministry of Agriculture are currently cooperating in animal production field to import breeds with high genetic poten-tial utilized for the production of milk and/or meat and as part of the national project to develop the agricultural activities. The two sides agreed to sign a joint cooperation protocol which falls under Agricul-ture as part of the initiative of the Central Bank of Egypt to support MSME's to finance project with the aim to enhance the capacity of existing poultry farms supporting customers to purchase domestic or imported cattle or the equipment associated with this activity.

Mr. Dante Campioni, Bank of Alexandria’s Chief Executive Officer, and Dr. Mona Mehrez, Deputy Minister of Agriculture, have signed this co-operation protocol on Tuesday May 16th last.

After signing the protocol, all the related aspects (volume of finance, nature of the customer’s activity and methods of directing customers from the Ministry to our Bank) have been discussed, as this project covers all the Egyptian governorates. The Ministry of Agriculture’s of-ficers have stated that cooperation will be enhanced with our bank during the coming period, via sharing the opportunities on ground from which the veterinary units under the supervision of the Ministry of Agriculture, will conduct field visits to these customers to follow-up farmers activities.

For more information please refer to : Mohamed FaridHead of Small Business Segment DevelopmentMohamed.Farid@ALEXBANK.com 6

ALEXBANK CELEBRATES ITS SECOND ANNUAL HOMELESS CHILDREN IFTAR IN PARTNERSHIP WITH SAWIRIS FOUNDATION FOR SOCIAL DEVELOPMENT (SFSD) BY ENTERING INTO A PLURENNIAL COOPERATION AGREEMENT WORTH EGP 50 MILLION

For the second consecutive year, ALEXBANK & Sawiris Foundation for Social Development (SFSD) held their annual Iftar event dedicated to homeless children, organized in cooperation with Samusocial International Egypte. The event took place at the Al-Horreya Park in Zamalek and hosted joyful and lively entertainment activities for 800 marginalized children, 200 of which differently abled.This year’s annual iftar was themed to take the children around the world and that’s why we called it “Heroes Around the World”. The purpose of the theme was to educate and entertain children by exposing them to a min-iature travel experience to the following countries: Kenya, USA, UK, France, Italy, and China, where each country has something different to share; a landmark, special food, a dance, a game or music. The day also included a variety of entertainment shows: a magician, clown, and fireworks, in ad-dition to a competition where the children were asked questions about the countries they have visited during the day. The night ended with a per-formance by the well-known singer Mahmoud El Esseily who kept children happily singing and dancing. The event was organized under the auspices of the Ministry of Social Solidarity, and was attended by Dr. Nevine El Kabbaj the Deputy Minister of Social Solidarity, Mr. Dante Campioni - Managing Director & CEO of ALEXBANK, Eng. Noura Selim - Executive Director of Sawiris Foundation for Social Development, Ms. Laila Hosni - Head of CSR & Sustainable Development at ALEXBANK who welcomed several representatives of public and private NGOs and guests. On the sidelines of the celebration, ALEXBANK and the Sawiris Foundation signed a cooperation protocol worth 50 million Egyptian pounds, to be contributed equally. The protocol aims to increase support to marginalized children in Egypt in the fields of health, education and the improvement of their living conditions, in addition to providing safe housing opportunities, especially for children with special needs. The cooperation extends over a period of 5 years and will be based on the collaboration with NGOs and the relevant authorities.

Fireworks show

The children having iftar

A group of children exploring China

800 CHILDREN

TRAVELLED

THE WORLD

IN ONE DAY

7

“We at the Ministry of Social Solidarity are very pleased and proud of the cooperation with ALEXBANK and Saw-iris Foundation as they are considered role models for the private sector and NGOs contribution in providing solutions by shifting the perspective of interacting with these children and affirm them as active members of the society.”Stated Dr. Nevine El Kabbaj, Deputy Minister of Social Solidarity.

"We are glad to consolidate our cooperation with the Sawiris Foundation through another significant initi-ative, which will add further scope to our successful partnerships already in place in the field of social devel-opment. We are also extremely grateful for the support and inspiration that H.E. Dr. Ghada Wali and the Ministry of Social Solidarity keep providing us. The scope of this new cooperation agreement is to define and implement specific initiatives within a long term framework aiming at improving the living conditions of homeless children and satisfy their needs of education and formation, to allow them to affirm themselves as resources for the Country, fully contributing to Egypt’s future."stated Dante Campioni, Managing Director & CEO of ALEXBANK.

"We aim through this celebration to draw a smile on the faces of homeless children, especially those with special needs. We made sure that all the preparations comply with their needs and conditions to enjoy the ceremony and its manifold activities. The cooperation with SFSD is a part of ALEXBANK’s plan to support the achievement of sustainable development in Egypt, giv-ing also attention to principles falling in line with Egypt's vision for 2018 as the "Year of People with Disability.”said Laila Hosni, ALEXBANK Head of CSR and Sustainable Development Office.

“We are delighted and proud of this strong partnership with ALEXBANK that reflects a unique model of cooper-ation based on the exchange of experiences and best practices in the field of development. In less than two years, we have been able to expand our co-funding from EGP 4 million to EGP 50 million, addressing the most pressing issues such as poverty reduction, economic empowerment, and supporting homeless children. Today, through this new initiative with ALEXBANK, we reaffirm our promise and commitment to provide all means of support and protection to homeless children and to empower them by realizing their right to play, education, personal growth and development”said Noura Selim, Executive Director of Sawiris Foundation for Social Development.

From left to right: Ms. Laila Hosny, ALEXBANK CSR and Sustainable Development Office Head, Dr.Nevine El Kabbaj , Deputy Deputy Minister of Social Solidarity and

Eng. Noura Selim, Executive Director of Sawiris Foundation for Social Development signing “Improving the Living Conditions of Marginalized Children in Egypt” Protocol

Ramez Youssef, MC of the event, and one of the competition winners

Mahmoud El Esseily’s Performance

A group of children exploring England

For more information please refer to : Mariam Nashaat CSR & Sustainable Development Office Mariam.Nashaat@ALEXBANK.com

8

ISBD INTERNATIONAL HEALTHCARE PROGRAMME

For more information please refer to : Best.doctors@ALEXBANK.com

Reference is made to the CEO word in Closer issue# 64 and Mr. Ignacio Jaquotot “Head of the International Subsidiary Banks Division” word in Close issue# 67 dedicated to the launch of the ISBD International Healthcare Programme, followed by an email announcement sent on the 4th of December 2017 announcing the launch of the program to all employees.

Intesa Sanpaolo Group developed a program aiming to create and provide the employees of ISBD a Healthcare program (Best Doctors), representing an important initiative for Alexbank to tangibly support its employees to increase loyalty and satisfaction.

This program will cover the expenses up to Euro 500k (About EGP 10 MLN) for single case and up to Euro 1 MLN (About EGP 20 MLN) in his lifetime.

Hospitalization services and costs.

Travel and accommodation expenses for the insured employee plus one companion and donor

Medication costs (Medication Benefit) for continuation of treat-ment upon return to the country of residence.

Other

Following the launch of the employees’ scheme for the program in December 2017, we are glad to announce the possibility to extend the medical coverage to our employees’ family members as well, noting that subscription fees for the family members will be based on the bank approach aiming to provide support to specific categories of population based on the level of the monthly income, ensuring the access to the scheme to all our employees.

The international health care initiative is a health protection programme that provides bank’s employees with the following benefits:

The employee can choose to receive treatment outside his/her country of residence in respect of the following Covered Illnesses:

Access to an expert second medical opinion internationally.

Cover for medical, travel and accommodation expenses as well as other benefits when receiving treatment for specific types of serious illnesses at leading international hospitals outside of your country of residency/employment.

Refund of medication expenses once you get back home.

Coronary arteryby-pass surgery

Cancer Treatment

NeurosurgeryHeart valvereplacement or repair

Bone Marrow TransplantLive-donororgan Transplant

9

ALEXBANK DEPARTMENTS COLLABORATE FOR A CAUSE IN THE HOLY MONTH OF RAMADAN

Since Ramadan is the month of giving, this year’s CSR and Sustainable Development Office, the Cards Department and the Marketing, Public relations and Research Department collaborated and launched a new initiative, with the objective to drive and encourage customers to use their VISA Cards in their daily purchase and in return ALEXBANK, in partnership with VISA, will donate a percentage to provide meals to the less fortunate people in Ramadan.

This initiative is implemented through a partnership between ALEXBANK and Misr El Kheir (MEK)Foundation where ALEXBANK is proud to take part in Misr El Kheir’s Campaign to feed 10 million Egyptians in Ramadan. ALEXBANK along with VISA are covering the cost of a Ramadan tent located in El Sheikh Zayed City,6th of October in Giza governorate. The tent provides 600 meals daily since the beginning of Ramadan.

To empower this initiative, Short Messages (SMSs) were sent to 300,000 ALEXBANK VISA card holders encouraging them to use their cards for a cause. Also a Facebook message was posted on ALEXBANK Facebook page to encourage the customers to use their ALEXBANK Visa cards and take part in the campaign.

Moreover, and for the first time, next Saturday, June 2nd, a number of YOUTH customers will volunteer at the tent to support Misr El Kheir team along with ALEXBANK volunteers to serve the meals. To motivate them, YOUTH customers will receive a promo-code from Careem, so they can get a free ride to the tent.

To ensure the quality of food, cleanliness of the tent and the service provided, the CSR and Sustainable Development Office team visit the tent weekly. So far, 8400 meals were provided and the remaining 9600 meals will be provided during the remaining days left in Ramadan.

This initiative doesn’t only reflect the integration of CSR in the business as part of the Bank's strategy but also reflects the teamwork spirit and strong cooperation between the different offices/departments of the Bank.

For more information please refer to : Mariam Nashaat CSR & Sustainable Development Office Mariam.Nashaat@ALEXBANK.com

10

This article compares between Western Union transfers and SPEED REMITTANCES to identify their common and distinct features.

COMPARISON BETWEEN WESTERN UNION TRANSFERS& SPEED REMITTANCES

For more information please refer to : Hassan Abdel Latif Western Union OfficeHassan.abdellatif@ALEXBANK.comNasr ElshenawyGlobal Transfer OfficeNasr.elshenawy@ALEXBANK.com

SPEED REMITTANCESWestern Union Transfers

Only incoming transfersIncoming and outgoing transfers.

Transfers may be collected and credited to the beneficiary’s account with ALEXBANK or other bank.

Transfers are sent and collected in cash.

Transfers are received on the same day or first business day following the sending date, and can be collected by beneficiaries within half an hour.

Transfers may be collected once they are sent.

If the mobile number of the beneficiary is available, an SMS is sent with the transfer reference number to request them to collect the transfer at the nearest branch.

An SMS is sent to the mobile number of the sender once the transfer is collected.

Money is sent via 48 banks and companies located in 6 Arab countriesMoney is sent via more than 500,000 agents located in over 200 countries worldwide.

Money is sent and received in EGP.Money is sent and received only in US Dollar. The possibility of sending and receiving money in EGP is under consideration.

Fees and expenses are low and can be waived.Service fees are relatively higher than those on SPEED REMITTANCES.

Both services do not require the sender or receiver to have bank accounts.

From the above, it becomes clear that the most important features of Western Union and SPEED REMITTANCES received from Arab banks and exchange companies are ease of procedures, high speed of transfer and speedy receipt of funds.The following are key points that should be paid attention to by those in charge of this service:

All officers in charge of paying Western Union transfers should pay attention when executing these transfers and stick to the instructions given in this respect.Undue pressures should not be exerted on customers to sell the amount of transfer in US dollar and buy Egyptian pound in return, as officers in charge of paying money transfers must have the technical skills to deal with customers, and clarify the advantages of selling foreign exchange at the bank without imposing any pressure on them, particularly in view of the bank’s competitive exchange rates.

The Branch Vault Officers should ensure the availability of sufficient USD balances in adequate denominations in order to cover the transfers expected to be paid. They should also regularly review the vault balances as well as the cash limits approved for the branch to ensure their sufficiency to cover the average rate of incoming transfers.

As per the instructions issued by the regulatory authorities, the branch may be required to make a Customer Information File

for SPEED REMITTANCES customers who receive transfers with amounts exceeding certain limits. In this case, the customer should be told that this procedure does not mean that an account is opened for him at the Bank and that the aim of such procedure is to facilitate the measures of receiving transfers next time.

The employees responsible for cashing Western Union transfers naturally try to convince customers to open accounts at the branch. The employee should have the professional skills which enable him to convince the customer with the advantages of opening an account without practicing any kind of pressure thereon.

In the next issue of “Closer”, we will continue to highlight this significant service rendered by the Bank.

11

EBDA3 MEN MASR INTRODUCES A NEW TECHNOLOGY TO TUNIS VILLAGE POTTERS

As part of ALEXBANK’s continuous support to the potters in Tunis Village Al Fayoum, that started two years ago with our help in the organization and sponsorship of the Tunis Village Annual Festival and later includ-ing them in “Ebda3 men Masr”, our leading initiative in the handicrafts sector; ALEXBANK donated 12 imported electric pottery wheels to 12 workshops in the village. The new electric wheels will help the potters decrease time of production and enhance its quality. Not only that, the Bank also donated a cheque of 250,000 EGP to Tunis Village Potters NGO that will help the NGO cover the cost of interlock bricks for a space of 1.3 km. This will make the village more accessible to all visitors whether on foot or using any other means of transportation, which will also give the village a more attractive look while ensuring to keep its ecological nature.

The distribution of the wheels and handing of the cheque took place in a small ceremony in Tunis Village Pottery School by Mr. Dante Campioni, ALEXBANK CEO and Managing Director, and in presence of Fayoum Governor, Dr. Gamal Sami and Mrs. Evelyne Porret, Founder of the pottery school.

This is a true example of how Ebda3 men Masr’s support to its partners is growing deeper to be more concerned with the supply chain of the product as in the above case, it’s from the village accessibility to the quality and efficiency of the production process which will in return help the potters expand their businesses more.

Mahmoud Youssef, one of the potters in Tunis Village, has said:.

“We have always been thankful for the support ALEXBANK has provided us with to make the village a main touristic attraction and help us reach new markets. But now, these electric wheels will un-doubtedly help us reach a new level of productivity and quality that will surely take us even further. Thank you ALEXBANK for your continuous support, we are all sure your work will not go unnoticed”

Group photo of Mr. Dante Campioni, Dr. Gamal Samy and the potters in Tunis village

Mr. Dante Campioni while presenting the cheque to Dr. Gamal Samy

Mr. Dante Campioni witnessing the potters using the new electric wheels.

For more information please refer to : Mariam Nashaat CSR & Sustainable Development Office Mariam.Nashaat@ALEXBANK.com

12

13

DUE DILIGENCE WITH OCCASIONAL TRANSACTION COMPLIANCE DEPARTMENT IS ON YOUR SIDE!

KYC rules issued by Egypt’s AML Unit refer to occasional transactions, and determine their threshold and applicable controls.Occasional transactions

Occasional transaction means a transaction between the bank and a customer who does not have an account or intention to enter into any business relationship with the bank. Examples include:

Sending and receiving Western Union transfers Receiving transfers coming from Arab exchange bureaus Mahfazty service Vodafone cash Mobile payments Foreign currency exchange Occasional transactions exceeding EGP30000 or US$2000 or

its equivalent (either a single transaction or multiple related transactions)

General Provisions Governing Occasional Transactions: The bank must consider the following:

Identify the purpose and nature of transaction Obtain any information or documents that the bank deems

necessary to complete even if the transaction does not exceed EGP30,000 or US$2000 or the equivalent in other foreign currency.

Make sure that the bank form data is completed. Review the original documents submitted by the person and

obtain copies of them, then the employee in charge his places his signature on each of them to certify that it is a true copy.

Suspect that the person is engaged in money laundering or terrorist financing with no specific amount for the incident.

Some Indicators of Suspicion When Carrying Out Occasional Transactions: If there is a suspicion that the occasional transaction is linked money laundering or terrorist financing, a suspicion notice is prepared pursuant to the prescribed form and send it to Anti-Money Laundering Office (AML@ALEXBANK.com), in the following cases:

Inability to obtain data and information concerning the nature and purpose of the transaction, in which case the transaction is not carried out and reported.

The customer's refrain to completing a specific financial transaction when additional data or information is required from him.

Inquiring about the Bank’s records, systems, instructions and set limits, with the aim of collecting sufficient information about money-laundering transactions and how to avoid related legal violations.

Incoming remittance in favor of person other than the "Beneficial Owner" without justifications therefor.

Requesting the issuance/receipt of remittances or foreign currencies exchange in unjustified large amounts.

Implementing Incoming transfers in small amounts and then outgoing transfers in large amounts, using the same method, to other entities.

Attempting to bribe the Bank’s employee (by money or unjustified valuable gifts), so as not to verify the data stated in the ID Document or the supporting documents.

The customer is directed by another person, once he enters the Bank, and he does not actually realize what he is doing or this customer is an old person accompanied by another unrelated person on implementing the transaction.

For more information please refer to : Yousra el SawyYousra.ElSawy@ALEXBANK.comHead of AML & International Sanctions OfficeMohamed EsnawyCompliance Assurance & Culture Diffusion OfficerMohamed.Esnawy@ALEXBANK.com

14

THE AUDIT CORNER:

CROSSED CHEQUES REGULATIONS ACCORDING TO THE TRADE LAW NO. 17/1999

For more information please refer to :Internal Audit Department Audit_cairo@ALEXBANK.com

In this issue of the Closer, Audit Department highlights some main procedures and instructions regulating the Crossed Cheques as per the Trade Law No. 17/1999, to comply with said regulations to avoid exposing our Bank to any risks in this regard:

The Crossed Cheques:

The crossed cheque is a cheque marked by the drawer or the holder by inserting/adding two parallel lines on the face of the cheque.

The general crossing of cheques: It is the cheques that only bear two parallel lines or bear parallel lines including the word (Bank) without specifying the Bank name.

The special crossing of cheques: It is the cheques that bear specific Bank name between the inserted lines.

Only the general crossing of cheques may be converted into special crossing and not vice versa.

The attempt to remove the cheque crossing or the Bank name written between the lines does not affect its crossing (i.e. it is still considered as crossed cheque).

In general crossing cases: It is mandate to pay the cheques value to Bank or to Bank Customer by crediting the value to the Customer A/C.

In special crossed cases: The cheques value to be only credited to the specific Bank named between the lines and said named Bank has the only right to endorse the cheque to any other Bank to collect it.

The crossed cheques to be only received from our Bank Customer as being the first original beneficiary of said crossed cheque to be credited to his A/C or to be received from other Banks only.

Important Note:

Both general and special crossed cheques should not be withdrawn in cash and to be only credited to the original concerned beneficiary A/C (our Bank Customer) or to be credited to other collecting Bank A/C.

Crossed cheques should be only paid on their maturity date that is recorded at the date field of the cheque.

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A WORLD OF REAL POSSIBILITIES.

THE WEEKLYISSUE 2228TH MAY 2018

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IN THIS ISSUE

New Russian Industrial Zone In Egypt

Positive Views On The Egyptian Economy

Tourism Revenues Hike

Trade Deficit Declines

IMF AND EGYPTIAN AUTHORITIES REACHED STAFF-LEVEL AGREEMENT

IMF Staff Press Release17th May 2018

“Strengthening the social safety net remains a top priority for the Egyptian authorities and is strongly supported by the IMF. We welcome the plan to further expand the “Takafol” and “Karama” programs to help protect Egypt’s most vulnerable. The school meals program for children as well as expansion of child care centers also aim to increase women’s participation in the labor force, which will be essential to sustaining strong and inclusive growth over the medium term”

An International Monetary Fund (IMF) team and the Egyptian authorities have reached a staff-level agreement on the third review of Egypt’s economic reform program, which is supported by the IMF’s USD12 billion arrangement. The agreement is subject to approval by the IMF’s Executive Board. Completion of this review would make available USD2 billion, bringing total disbursements under the program to about USD8 billion.

The IMF team reported that Egypt has begun to reap the benefits of its ambitious and politically difficult economic reform program:

Egypt’s growth has continued to accelerate during 2017/18, rising to 5.2% in the first half of the year from 4.2% in 2016/17. The current account deficit has also declined sharply, reflecting the recovery in tourism and strong growth in remittances. In addition, gross international reserves rose to USD44 billion by end-April, equal to 7 months of imports.

Annual headline inflation has declined from 33% in mid-2017 to around 13% in April, anchored by the well-calibrated monetary policy of the Central Bank Egypt (CBE). The CBE remains committed to reducing inflation to single digits over the medium term.

Egypt is on track to achieve a primary budget surplus excluding interest payments in 2017/18, with general government debt as a share of GDP expected to decline for the first time in a decade. The budget for 2018/19 targets a primary surplus of 2% of GDP, which would keep public debt on a firmly downward path. The government also remains committed to continuing energy subsidy reforms to achieve cost-recovery prices for most fuel products by 2019.

THE WEEKLYISSUE 2121ST MAY 2018

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IN THIS ISSUE

CBE Keeps Key Interest Rates Unchanged

Unemployment Rate Declines

Loans To SMEs Amount To EGP100 BN.

Efforts To Develop Sinai

FIFTH NATIONAL YOUTH CONFERENCE

Abdel Fattah El Sisi16th May 2018

“I approve of and support establishing a committee for political cadres to help create new and capable young people who can lead the country later, especially amid all the international and national challenges that we face”

President Abdel Fattah El Sisi inaugurated the fifth National Youth Conference held on the 16th of May. Around 1,300 youth attended the conference, along with parliament members, heads of unions and universities, journalists, and public figures to discuss the latest political and economic developments in Egypt. On the sideline of the conference, the president revealed the following statements:

Egypt’s real GDP growth accelerated to 5.4% in 3Q FY2017/18 from 4.3% in 3Q FY2016/17 and 5.3% in the previous quarter. Economic conditions are improving, but challenges including a bloated public sector persist.

Living conditions to improve within two years as the state’s projects begin to bear fruits.

Egypt has repaid some USD4 billion of its dues to foreign oil companies during the past period, with the current outstanding balance stands at around USD2 billion.

The Egyptian government will provide 5-year tax exemptions to informal businesses when they join the official sector.

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في هذا العدد

منطقة صناعية روسية جديدة في مصر

أراء إيجابية حول االقتصاد المصري

عائدات السياحة ترتفع

العجز التجاري ينخفض

األسبوعيالعدد 22

28 مايو 2018

اتفاق مبدئي بين مصر وصندوق النقد اتفاق إلى المصرية والسلطات الدولي النقد صندوق من فريق توصل مصر، في االقتصادي اإلصالح لبرنامج الثالثة المراجعة حول مبدئي والمدعوم بتسهيل من صندوق النقد الدولي بنحو 12 مليار دوالر أمريكي. الدولي النقد لصندوق التنفيذي المجلس على االتفاق يعرض وسوف للموافقة والتي من شأنها توفير ملياري دوالر أمريكي، وبذلك يصل مجموع المدفوعات التي حصلت عليها مصر في إطار البرنامج إلى حوالي 8 مليارات

دوالر أمريكي.

أفاد فريق صندوق النقد الدولي أن مصر بدأت تجني ثمار برنامج اإلصالح االقتصادي الطموح والصعب سياسيا:

بخطة نرحب الدولي. النقد من صندوق بقوة المدعوم االمر وهو المصرية للسلطات بالنسبة قصوى أولوية يمثل االجتماعي األمان شبكة تعزيز يزال »ال رعاية مراكز وتوسيع لألطفال المدرسية الوجبات برنامج يهدف كما احتياجا في مصر. االكثر الفئات في للمساعدة »الكرامة« و »تكافل« برامج في التوسع

المتوسط » المدى الذي سيكون ضرورًيا للحفاظ على نمو قوي وشامل على العمل، األمر المرأة في قوة زيادة مشاركة إلى األطفال

بيان صحفي لصندوق النقد الدولي17 مايو 2018

العام من 4.2 ٪ في إلى 5.2 ٪ في النصف األول من ارتفع التسارع خالل عام 18/2017، حيث المحلى اإلجمالي في اناتج استمر نمو 17/2016. كما انخفض عجز الحساب الجاري بحدة، مما يعكس انتعاش السياحة والنمو القوي في التحويالت. باإلضافة إلى ذلك ، ارتفع

إجمالي االحتياطيات الدولية إلى 44 مليار دوالر بحلول نهاية أبريل ، أي ما يغطى 7 أشهر من الواردات.

انخفض معدل التضخم السنوي من ٣٣ ٪ في منتصف 2017 إلی حوالي 1٣ ٪ في أبریل ، مدعوما بالسیاسة النقدیة حيث يظل البنك المركزي المصري ملتزًما بخفض التضخم إلى رقم أحادي على المدى المتوسط.

مصر في طريقها لتحقيق فائض في الميزانية األولية )باستثناء مدفوعات الفائدة( في 18/2017، مع توقع انخفاض الدين الحكومي العام كنسبة من الناتج المحلي اإلجمالي للمرة األولى خالل عقد من الزمان.تستهدف موازنه عام 19/2018 فائضا أوليا بنسبة 2 ٪ من الناتج الطاقة الحكومة ملتزمة بمواصلة إصالحات دعم ثابت. كما تظل العام على مسار هبوطي الدين والذي سيبقي ، اإلجمالي المحلي

لتتمكن من الوصول لنقطه التعادل مع التكاليف لمعظم منتجات الوقود بحلول عام 2019.

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في هذا العدد

البنك المركزي المصري يبقي على أسعار الفائدة دون تغيير

انخفاض معدل البطالة في مصر

تمويالت الشركات الصغيرة والمتوسطة تبلغ 100 مليار جنيه

جهود الحكومة المصرية لتطوير سيناء

األسبوعيالعدد 21

21 مايو 2018

المؤتمر الوطني الخامس للشباب

افتتح الرئيس عبد الفتاح السيسي المؤتمر الوطني الخامس للشباب الذي إلى جانب أعضاء ، المؤتمر قرابة 1300 شاب عقد في 16 مايو. وقد حضر العامة والشخصيات والصحفيين والجامعات االتحادات ورؤساء البرلمان هامش وعلى مصر. في واالقتصادية السياسية التطورات آخر لمناقشة

المؤتمر ، كشف الرئيس عن التصريحات التالية:

والمحلية الدولية التحديات البالد في وقت الحق، خاصة وسط للمساعدة في خلق شباب جدد قادرين على قيادة السياسية للكوادر لجنة إنشاء وأدعم »أقر نواجهها« التي

عبد الفتاح السيسي16 مايو 2018

الربع الناتج المحلي الحقیقي في مصر إلی 5.4٪ في تسارع نمو إجمالي الثالث من العام المالي 18/2017 من 4.3٪ في الربع الثالث من العام المالي لكن تتحسن، االقتصادية الظروف السابق. الربع في ٪ 5.3 و 17/2016

التحديات التي تواجه القطاع العام المتضخم ال تزال قائمة.

في الدولة مشاريع بدء مع عامين غضون في تتحسن معيشة ظروف إحداث ثمار.

قامت مصر بسداد 4 مليار دوالر من مستحقات شركات النفط األجنبية خالل الفترة الماضية، ليبلغ الرصيد المستحق حاليا نحو 2 مليار دوالر.

القطاع إلى الرسمي عند انضمامها القطاع غير التي تعمل في إعفاءات ضريبية لمدة 5 سنوات للشركات المصرية الحكومة ستقدم الرسمي.