Cairo: Abu Dhabi Commercial Bank – Egypt (ADCB Egypt), a subsidiary of ADCB Group, one of the UAE’s leading banks, announced today that it has entered into a strategic partnership with EFG Hermes, an EFG Holding company, and the leading investment bank in the Middle East and North Africa (MENA), to launch the bank’s first mutual fund in the Egyptian market.
Under this partnership, ADCB Egypt has appointed EFG Hermes Asset Management to manage its inaugural product, a money market fund designed to offer the bank’s clients a low-risk, highly liquid investment solution. The fund “Zayed Kol Youm” allows for daily subscriptions and redemptions, providing clients with efficient cash management and competitive short-term returns.
The launch represents a key milestone for ADCB Egypt as it expands its product offerings, while also marking the beginning of a broader collaboration between the two institutions.
The ADCB Money Market Fund is tailored to meet the evolving needs of the bank’s clients, offering a convenient, flexible investment vehicle aligned with their financial aspirations. ADCB Egypt is also working towards making the fund accessible through its digital banking platforms, including its website and mobile application, further enhancing client accessibility and convenience.
“We are pleased to partner with ADCB Egypt on the launch of their first mutual fund in the local market,” said Nabil Moussa, Head of Asset Management Egypt, EFG Hermes. “This collaboration reflects our continued commitment to delivering institutional-grade investment solutions to a broader client base. By combining our asset management expertise with ADCB Egypt’s strong client franchise, we aim to provide a reliable and efficient product that supports clients’ liquidity needs while laying the groundwork for future product development.”
From her side, Rania Hassan, Chief Treasury & Investment Officer, ADCB Egypt, said: “The launch of our first mutual fund in Egypt “Zayed Kol Youm” marks an important step in our strategy to diversify our offerings and deliver greater value to our clients. Partnering with EFG Hermes allows us to leverage their proven track record and expertise in managing high-quality investment products. We see this as the beginning of a long-term collaboration, with further opportunities to introduce new investment solutions that cater to our clients’ evolving needs.”
This partnership underscores both institutions’ shared focus on enhancing client experience and expanding access to professionally managed investment solutions in Egypt. Building on this initial launch, ADCB Egypt and EFG Hermes intend to explore additional opportunities to introduce new funds across different asset classes in the future.
About ADCB-Egypt
Member of Abu Dhabi Commercial Bank (ADCB) Group, the third largest financial institution in the UAE, ADCB Egypt was established in 2020 through the global acquisition of UNB Group. With a vision to be the most preferred bank to its customers, ADCB Egypt aims to deliver revolutionary banking solutions and lead the digitization breakthrough backed by its Group’s expertise.
ADCB Egypt is actively present across the whole spectrum of customers offering a wide range of financial products, services and innovative digital solutions for Retail, Affluent customers, SMEs and Corporate, providing the highest level of service excellence and convenience. ADCB Egypt reaches out to its customers not only through its highly advanced online services but also through a nationwide network of branches and ATMs.
Committed to serve the national economy in alignment with Egypt’s vision 2030, ADCB Egypt is actively participating in major landmark projects and supports its different customers in their projects and ambitions. Furthermore, the bank adopts a fully integrated vision for supporting “inclusion via empowerment” by pioneering the integration of people with determination in the banking system, offering special products and services tailored made to meet their needs. Those endeavors are listed on the Bank’s roadmap towards sustainability in alignment with ADCB Group ESG strategy.
Since its launch, the Bank was able to set its footprint in the Egyptian landscape, achieving year on year a sustainable strong financial performance, taking the bank on top of the charts of the fastest growing banks in Egypt.
The Bank’s success and efforts were recognized with many prestigious awards for its digital advancement and its initiatives for the integration of people with disabilities and the youth graduate employment program.
For more info pls. visit : www.adcb.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.
