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  • EFG Hermes Asset Management is the fund manager for Credit Agricole I, Credit Agricole II equity funds and Credit Agricole III money market fund. With over 25 years of experience in the Egyptian market, the fund manager makes investment decisions on behalf of the investors based on through research and close monitoring of market conditions. EFG Hermes Asset Management is responsible for the performance of the funds under its management, as they handle the investment part of the fund.

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Crédit Agricole Egypt launches ‘Thank You’ initiative and exempts medics from banking fees

Cairo, April 13th, 2020 – Crédit Agricole Egypt has announced the launch of a new initiative, titled “Shokran” (Thank You), for supporting all working in the health sector, within the framework of supporting the efforts of the Central Bank of Egypt and the government to fight coronavirus and the consequent economic impact, and in implementation of the bank’s strategy aiming to achieve sustainability by acting every day in the interest of its clients and community.

Under the initiative “Shokran”, the bank exempted medics from administrative fees on loans, credit cards and accounts. It also gives them priority service inside branches to save their time.

Mr. Pierre Finas, Managing Director of Crédit Agricole Egypt, said: “We are currently facing unprecedented challenges due to the coronavirus pandemic that has been wreaking havoc across the world. However, our actual solidarity and commitment towards our customers and community are reinforced by such circumstances. Thus, in full coordination with Credit Agricole group, we were quick to take all precautionary measures to ensure the health and safety of the bank employees, external providers and customers. Our main objective is to pursue our services in in favor of our all clients either individual or corporate, offering them the right financial advice and solutions, and implementing the Central Bank directions, so that we all could overcome this rapidly developing critical period and support of the Egyptian economy.

Mr. Walie Lotfy, Deputy Managing Director, stated: “Crédit Agricole Egypt fully recognizes the major role played by all workers in the medical sector, as well as the hefty burden on them. Therefore, we have launched the ‘Thank You’ initiative as a practical expression of our appreciation for them and their vital role as a first defense line in confronting coronavirus. Crédit Agricole Egypt now offers medics its services without fees and with unique privileges, along with giving them the priority in branches to save their time, in addition to offering all of our digital channels.”

Lotfy added: “We have always been promoting the usage of digital channels to uphold the transformation to cashless society. Nowadays, digital services became a necessity and a general trend for the achievement of safety and health for the community. We pride ourselves in owning a full-fledged platform of digital services, namely ‘banki by Credit Agricole’, to ensure that both retail and corporate clients can conduct their banking transactions remotely with the same efficiency, while seated safely at their homes.”

Crédit Agricole Egypt earlier announced to its clients that it took all necessary measures to support them, in compliance with the decisions of the Central Bank of Egypt, which include the postponement of loans and credit card due payments for a period of six months, as well as promoting digital transactions and raising awareness about the importance and accessibility of digital banking services to mitigate the risk of contracting the virus, out of keenness on the safety and comfort of our clients.”

The bank also canceled fees on ATM withdrawals as well as on transfers in EGP, knowing that the transfer feature is available via the bank’s digital services, including mobile app, and online, thus enabling clients, both retail and corporate, to execute their transfers remotely without the need to visit the bank branches. Furthermore, the bank reinforced its disinfection procedures and placed signs indicating social distancing tips inside branches and at ATMs.

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