{"id":603275,"date":"2019-04-17T04:00:42","date_gmt":"2019-04-17T04:00:42","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/17\/coffee-with-tarek-fayed-ceo-and-chairman-banque-du-caire\/"},"modified":"2019-04-17T04:00:42","modified_gmt":"2019-04-17T04:00:42","slug":"coffee-with-tarek-fayed-ceo-and-chairman-banque-du-caire","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/17\/coffee-with-tarek-fayed-ceo-and-chairman-banque-du-caire\/","title":{"rendered":"Coffee with Tarek Fayed, CEO and Chairman, Banque du Caire"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-08\"><\/a><b> Coffee with Banque du Caire Chairman and CEO Tarek Fayed:<\/b> If there\u2019s one transaction in the reborn state privatization program to which market watchers are looking forward, it is the initial public offering of the (rebranded this week) Banque du Caire. BdC is led by Tarek Fayed as chairman and CEO, who recently sat down with us for the latest installment in our <b>Coffee With\u2026 series<\/b>. The most latest on that transaction: It will likely happen this year and see the bank offer 20-30% of its equity for sale, CBE Governor Tarek Amer <a href=\"https:\/\/enterprise.press\/stories\/2019\/04\/16\/government-plans-to-offer-up-to-30-of-banque-du-caire-in-ipo-this-year\/\">said earlier this week<\/a>.<\/p>\n<p><b>Who is Tarek Fayed? <\/b>Prior to joining Banque du Caire in January 2018, Fayed held posts in Egypt and abroad with Citibank, the Egyptian American Bank, and Samba, where he worked in areas including corporate and investment banking, risk management and audit. Fayed also had a distinguished career in public service, having served as sub-governor of the Central Bank of Egypt, where he oversaw the development of a number of regulatory guidelines and mechanisms. He also represented the CBE on the boards of banks including the Agriculture Bank, United Bank, and Arab International Bank.<\/p>\n<p><b>BdC has embarked on an ambitious turnaround<\/b>, reporting a 207% jump in net profit after tax to EGP 2.5 bn in 2018, up from EGP 808 mn a year earlier, while undertaking an expansion in the region and services.<\/p>\n<p><b>Key takeaways from our conversation:<\/b><\/p>\n<ul>\n<li>Fayed\u2019s turnaround strategy rested on building staff capabilities, technology infrastructure, and adopting a customer-centric approach;<\/li>\n<li>The bank's corporate banking portfolio grew 80% y-o-y on the back of a restructured department, while total customer loans grew 50% y-o-y;<\/li>\n<li>Financial inclusion has become a major focus at the bank through SME and microfinance lending;<\/li>\n<li>The bank is looking to expand regionally in East Africa and the GCC through offices and subsidiaries in Uganda and the UAE;<\/li>\n<li>BdC is internally ready for the IPO and is awaiting a decision by stakeholders and regulators;<\/li>\n<li>The market is awaiting single digit inflation before CAPEX comes back.<\/li>\n<\/ul>\n<p><b>Enterprise: Let\u2019s start with the bank\u2019s performance based on the recent release of your financial results. How did this unfold?<\/b><\/p>\n<p><b>Tarek Fayed:<\/b> We first had to formulate a very clear strategy for the bank and a strong growth map to achieve our objectives. We strongly believe that the two pillars that we needed to work on were people and infrastructure, including restructuring within existing departments across the bank. We hired a very strong caliber of people to fill in the gaps and our focus on the rest of the employees was to set clear objectives and focus on training and capacity building.<\/p>\n<p><b>We rebuilt our corporate banking division and we\u2019ve added new departments<\/b> including the wholesale banking side\u2019s global transaction banking department, which takes care of our product offering for corporates, financial institutions and non-banking financial institutions \u2014 services ranging from cash management solutions and trade finance to customized business solutions. We also restructured our corporate finance and investment banking department by bringing in a high-caliber team. And we\u2019ve totally revamped our retail banking business and added new talent across the board, with a focus on introducing products and services tailored to a wide spectrum of retail customers and focusing on ancillary business and cross-selling opportunities.<\/p>\n<p><b>We\u2019re not there yet, we have lots of plans in terms of capacity building.<\/b> We have more than 7,500 employees, and we have to work hard at developing their skills. That\u2019s why we significantly increased our training budget in 2018 and increased the number of training hours for employees. Our main objective is to keep our people updated with the best international banking practice worldwide.<\/p>\n<p><b>On the technology front, we want to be at the forefront of digital banking,<\/b> and we have taken the time to build infrastructure and our core banking system, including signing last year with Temenos \u2014 one of the top global core banking system providers \u2014 to roll out their T24 system within 24-36 months. But we\u2019re not waiting until we finish our core banking system upgrade to introduce digital banking solutions.<\/p>\n<p><a href=\"https:\/\/enterprise.press\/2019\/04\/16\/coffee-banque-du-caire-chairman-ceo-tarek-fayed\/\"><b>Tap or click here<\/b><\/a> to continue reading our sit-down with Tarek Fayed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coffee with Banque du Caire Chairman and CEO Tarek Fayed: If there\u2019s one transaction in the reborn state privatization program to which market watchers are looking forward, it is the initial public offering of the (rebranded this week) Banque du Caire. BdC is led by Tarek Fayed as chairman and CEO, who recently sat down [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":603276,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[10943],"tags":[335,72],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-603275","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coffee-with-enterprise","tag-coffee-with","tag-enterpriseam","wpautop","entry"],"acf":{"mongo_id":"f00daebe-088c-459d-b1e6-c0df57f4ad7b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/4\/7.jpg","photo_position":"above","related_issue":[603258],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Coffee with Tarek Fayed, CEO and Chairman, Banque du Caire - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/17\/coffee-with-tarek-fayed-ceo-and-chairman-banque-du-caire\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coffee with Tarek Fayed, CEO and Chairman, Banque du Caire\" \/>\n<meta property=\"og:description\" content=\"Coffee with Banque du Caire Chairman and CEO Tarek Fayed: If there\u2019s one transaction in the reborn state privatization program to which market watchers are looking forward, it is the initial public offering of the (rebranded this week) Banque du Caire. BdC is led by Tarek Fayed as chairman and CEO, who recently sat down [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/17\/coffee-with-tarek-fayed-ceo-and-chairman-banque-du-caire\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2019-04-17T04:00:42+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/4\/7.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/17\/coffee-with-tarek-fayed-ceo-and-chairman-banque-du-caire\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/17\/coffee-with-tarek-fayed-ceo-and-chairman-banque-du-caire\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Coffee with Tarek Fayed, CEO and Chairman, Banque du Caire\",\"datePublished\":\"2019-04-17T04:00:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/17\/coffee-with-tarek-fayed-ceo-and-chairman-banque-du-caire\/\"},\"wordCount\":699,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/17\/coffee-with-tarek-fayed-ceo-and-chairman-banque-du-caire\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/4\/7.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Coffee With\",\"EnterpriseAM\"],\"articleSection\":[\"COFFEE WITH ENTERPRISE\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/17\/coffee-with-tarek-fayed-ceo-and-chairman-banque-du-caire\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2019\/04\/17\/coffee-with-tarek-fayed-ceo-and-chairman-banque-du-caire\/\",\"name\":\"Coffee with Tarek Fayed, CEO and Chairman, Banque du Caire - 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Fayed said back in February that the bank secured a USD 30 mn loan\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570733,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/13\/banque-du-caire-postpones-ipo-on-market-turmoil-chairman\/","url_meta":{"origin":603275,"position":1},"title":"Banque du Caire postpones IPO on market turmoil -chairman","author":"enterpriseam admin","date":"13 April 2020","format":false,"excerpt":"IPO WATCH- Banque du Caire postpones IPO on market turmoil, chairman confirms: State-owned Banque du Caire (BdC) has shelved plans to debut 20-30% of its shares on the EGX in April thanks to fallout from the covid-19 pandemic, Chairman Tarek Fayed confirmed to Al Masry Al Youm in an interview\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":575731,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/25\/banque-du-caire-obtains-pos-license\/","url_meta":{"origin":603275,"position":2},"title":"Banque du Caire obtains PoS license","author":"enterpriseam admin","date":"25 October 2020","format":false,"excerpt":"Banque du Caire has obtained a license from the central bank to operate Point of Sale (PoS) machines, Chairman Tarek Fayed said, according to Al Mal.","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":603511,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/24\/bdcs-tarek-fayed-joins-uab-board\/","url_meta":{"origin":603275,"position":3},"title":"BdC\u2019s Tarek Fayed joins UAB board","author":"enterpriseam admin","date":"24 April 2019","format":false,"excerpt":"MOVES- Banque du Caire Chairman and CEO Tarek Fayed has been named to the Union of Arab Banks\u2019 (UAB) board of directors for a term ending in 2022, Masrawy reports. Banque Misr Chairman Mohamed El Etreby remains vice chairman of the board.","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574192,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/01\/bdc-sme-lending-up-23-in-1h2020\/","url_meta":{"origin":603275,"position":4},"title":"BdC SME lending up 23% in 1H2020","author":"enterpriseam admin","date":"1 September 2020","format":false,"excerpt":"Banque du Caire increased its lending to SMEs by 23% to EGP 11 bn during 1H2020, Chairman Tarek Fayed said in a statement on Monday, Hapi Journal reports. The state-owned bank has been working with the European Investment Bank to channel finance to SMEs after the multilateral lender signed off\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":599910,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/14\/banque-du-caire-to-allow-credit-card-and-loan-repayments-at-fawry-outlets\/","url_meta":{"origin":603275,"position":5},"title":"Banque du Caire to allow credit card and loan repayments at Fawry outlets","author":"enterpriseam admin","date":"14 January 2019","format":false,"excerpt":"Banque du Caire will now allow credit card payments and loan repayments to be done at Fawry outlets, Banque du Caire CEO Tarek Fayed said, according to a local source. This will facilitate the repayments of loans and bills without needing to have a bank card. Loans that can be\u2026","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/603275","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=603275"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/603275\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/603258"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/603276"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=603275"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=603275"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=603275"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=603275"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=603275"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}