Bank NXT, a leading provider of integrated retail and corporate banking solutions in Egypt, announced the launch of a strategic alliance with Kaf Insurance, aimed at expanding access to insurance services and offering advanced financial protection solutions to customers. Kaf was established as a joint venture between EFG Finance, EFG Holding’s NBFI platform, and GB Corp, and is Egypt’s fastest-growing tech-enabled insurance company.

Through this partnership, Bank NXT customers will gain access to a diverse range of Kaf Insurance products, including life, savings and health insurance solutions, via the Bank’s branch network and digital channels. This collaboration will provide customers with a more seamless and flexible experience while addressing their evolving financial protection and insurance needs.

Commenting on the partnership, Sherif Nada, Chief of Retail, Branches Network & Business Banking at Bank NXT, said: “This alliance represents an extension of Bank NXT’s strategy to provide integrated financial services that cater to the evolving needs of our customers. Through our collaboration with Kaf Insurance and its advanced capabilities and digital solutions, we will offer reliable, innovative insurance services that enhance customer experience and support the Bank’s digital transformation agenda. This partnership also reinforces our efforts to provide customers with more accessible, flexible, and high-quality financial services.”

Sohail Ali, CEO of Kaf Insurance, commented: “We are proud to partner with Bank NXT in line with our shared vision of expanding access to innovative insurance solutions and enhancing financial inclusion. This partnership represents a crucial step in making insurance products more accessible through seamless digital and branch-based channels, while delivering tailored protection solutions that address the evolving needs of both individuals and businesses. Together, we are committed to creating greater value for customers and contributing to the continued development of Egypt’s bancassurance sector.”

This partnership reflects the commitment of both organizations to advancing financial inclusion and fostering innovation across financial and insurance services. By combining their respective expertise and capabilities, Bank NXT and Kaf Insurance aim to deliver added value to customers while supporting the continued growth of the bancassurance sector in the Egyptian market. 

-ENDS-

About Bank NXT
Bank NXT (formerly known as aiBANK) was established in 1974 as an investment and business bank and commenced its activities under the supervision of the Central Bank of Egypt in 1978, with a capital base of USD 40 million. 

The bank has witnessed continuous capital growth, reaching EGP 1.9 billion in 2020. Moreover, as per the decisions of the general assembly held on October 10, 2021, and after the completion of the Bank's acquisition deal, the Bank received approval to increase its paid-up capital to EGP 5 billion and adjusted its ownership structure accordingly to accommodate both new and existing investors, as per the following: 
•    EFG Holding S.A.E – (51%)
•    Egypt’s Financial Services and Digital Transformation Sub-Fund – (25%)
•    National Investment Bank – (24%)

Additionally, based on the General Assembly decision dated March 24, 2024, a further capital increase was approved, bringing the total to EGP 5.4 billion. 
Furthermore, based on the General Assembly decision dated March 20, 2025, a further capital increase was approved, bringing the total to EGP 5.7 billion.

On August 17, 2025, the Bank’s Board of Directors, in accordance with the authorities granted to the Board, approved a cash increase to the Bank’s issued and paid-in capital amounting to EGP 4.2 billion, bringing the total issued and paid-in capital after the increase to EGP 9.9 billion, through the issuance of new shares to existing shareholders in proportion to their current shareholdings, without any change to the ownership structure. 

The Bank offers its services to its customers through its 36 branches nationwide. It is continually expanding its geographic presence by opening new branches. In addition, the bank is expanding its ATM network to ensure that it covers all key locations. The Bank is also committed to satisfying its customers by providing unique and competitive services and by investing in its technology systems and human capital to improve the overall quality of its banking services.

Learn more about us at www.banknxteg.com 

For further information, please contact:  
Reham Abbas
Head of Public Relations and Corporate Communications of Bank NXT
rabbas@banknxteg.com

About Kaf Insurance:
Kaf is an Egyptian insurance company licensed to offer life, savings, and health insurance products. Established in 2021 as a collaboration between EFG Finance, EFG Holding’s Non-Bank Financial Institutions (NBFI) platform, GB Capital, and Tokio Marine, Kaf is committed to building a meaningful local insurance platform to drive value for individuals and businesses in the life, savings, and medical arenas for the segments of society that have low insurance penetration. The company aims to constantly provide innovative insurance solutions to boost demand in the retail and corporate markets and bridge the ‘insurance gap’ in Egypt.
Learn more about us at: www.kaf.com.eg 

About EFG Holding:

EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a financial institution that boasts a legacy of more than 40 years of success in five countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) - the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes.

EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a provider of innovative and integrated financial solutions for micro and very small business owners and entrepreneurs, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, Bedaya for mortgage finance, Kaf for insurance, and EFG Finance SMEs, which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt. 

Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Bahrain 

Learn more about us at www.efgholding.com 

For further information, please contact:
May El Gammal
Group Chief Marketing & Communications Officer of EFG Holding
melgammal@efgholding.com 

Omar Salama
Head of Communications of EFG Holding
osalama@efgholding.com

The EFG Holding Public Relations Team
PublicRelations@efgholding.com

Note on Forward-Looking Statements:
In this press release, EFG Holding may make forward-looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Holding’s belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management’s control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending, and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.