The Bank of Alexandria is one of the largest bank

Bank

A bank is a financial institution that serves as a financial intermediary. The term "bank" may refer to one of several related types of entities:...

s in Egypt

Egypt

Egypt , officially the Arab Republic of Egypt, Arabic: , is a country mainly in North Africa, with the Sinai Peninsula forming a land bridge in Southwest Asia. Egypt is thus a transcontinental country, and a major power in Africa, the Mediterranean Basin, the Middle East and the Muslim world...

. It has a market share of almost 7% and had assets of 5.2 billion euro

Euro

The euro is the official currency of the eurozone: 17 of the 27 member states of the European Union. It is also the currency used by the Institutions of the European Union. The eurozone consists of Austria, Belgium, Cyprus, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg,...

s (US$6.5 billion) as of June 30, 2006. Intesa Sanpaolo

Intesa Sanpaolo

Intesa Sanpaolo is a banking group resulting from the merger between Banca Intesa and Sanpaolo IMI based in Turin, Italy. It has clear leadership in the Italian market and a minor but growing international presence focused on Central-Eastern Europe, the Middle East and North Africa Intesa Sanpaolo...

 is the major shareholder in the bank. It holds 70.25% of the bank shares, IFC holds 9.75% and the Egyptian Government holds 20%. Mahmoud Abdel Salam Omar

Mahmoud Abdel Salam Omar

Mahmoud Abdel Salam Omar is an Egyptian businessman. He is the Chairman of El-Mex Salines, an Egyptian salt production company, and was formerly Chairman of Egypt's Bank of Alexandria and head of the Egyptian Banks Federation...

, who is a former head of the Egyptian Banks Federation, is a former Chairman of the bank.

History

• In 1857 local Greek merchants established a Bank of Alexandria to cater to the needs of the Greek merchant community. This bank was liquidated in 1877.

• 1864 The English overseas bank, Anglo-Egyptian Bank
  Anglo-Egyptian Bank
  The Anglo-Egyptian Bank was a British overseas bank established in 1864. The founding banks were Agra and Masterman's Bank and the General Credit and Finance Co., and the bank incorporated Pastré Frères et Compagnie and Giovanni Sinadino and Co., which was the only one of the four to have its seat...
  
   was founded.
• 1924 Anglo Egyptian Bank merged with The Colonial Bank (est. 1836) and the National Bank of South Africa (est. 1891) to form Barclays Bank (Dominion, Colonial and Overseas). Barclays had inherited the ownership of The Colonial Bank when it acquired the London Provincial and South Western Bank in 1918.
• 1957 The Egyptian government founded Bank of Alexandria to take over the Egyptian operations of Barclays Bank DCO, which the Egyptian government had nationalized in 1956 after British and French troops attacked Egypt and occupied the Suez Canal
  Suez Canal
  The Suez Canal , also known by the nickname "The Highway to India", is an artificial sea-level waterway in Egypt, connecting the Mediterranean Sea and the Red Sea. Opened in November 1869 after 10 years of construction work, it allows water transportation between Europe and Asia without navigation...
  
   during the Suez crisis
  Suez Crisis
  The Suez Crisis, also referred to as the Tripartite Aggression, Suez War was an offensive war fought by France, the United Kingdom, and Israel against Egypt beginning on 29 October 1956. Less than a day after Israel invaded Egypt, Britain and France issued a joint ultimatum to Egypt and Israel,...
  
  .
• 1964 Bank of Alexandria acquired Banque du Nile and Import-Export Bank of Egypt.
• 2006 The Egyptian government privatized Bank of Alexandria. Sanpaolo IMI
  Sanpaolo IMI
  The Gruppo Sanpaolo IMI was one of Italy's major banking and insurance groups, based in Turin. It employed about 44,000 people and had about 7 million customers....
  
  , the Italian bank which itself was acquired by Banca Intesa
  Banca Intesa
  Banca Intesa S.p.A. was formed in 1998 from the merger of Cassa di Risparmio delle Provincie Lombarde and Banco Ambroveneto...
  
  , agreed to pay $1.6 billion for 80% of Bank of Alexandria. This was the first privatization in Egypt of a fully government-owned bank.