The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms and Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.

Bank of Alexandria: a focus on reform

Since taking over from Mahmoud Abdel Salam Omar six months ago, the chairman of the Bank of Alexandria and of Egyptian American Bank (Bank of Alexandria's joint venture with American Express Bank), Mahmoud Abdel Latif, has been busy trying to get the bank in shape.

A former Citibanker and the former head of Chase Manhattan's regional operations, Mahmoud is one of the new generation of Egyptian bankers that have been brought in to run the ailing state banks.

The Bank of Alexandria is the smallest of Egypt's big four although it has the largest international operations. Like the rest of the big four, Bank of Alexandria has suffered from excessive bureaucracy, directed lending policies, and poor IT infrastructure.

Mahmoud Abdel Atif: one of
the new generation of Egyptian bankers

A new philosophy Since taking over at Bank of Alexandria, Mahmoud has worked aggressively to address the bank's non-performing loan ratio, estimated to be over 15.2%, and has brought in 15 senior managers from Citigroup and JPMorgan. The bank's new philosophy is to work closely with struggling clients to help them restructure their debt and to dispose of non-core assets.

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.


Unlimited access to and

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually


Unlimited access to and, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors


Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree