SOCIETE ARAB INTERNATIONALE DE BANQUE (SAIB)
TEMENOS EASTERN EUROPE Ltd. a shareholder of which is INFORMER S.A. (49%) having the management as well, undertook the installation and implementation of
banking software system TEMENOS GLOBUS™ in SOCIETE ARAB INTERNATIONALE DE BANQUE (SAIB).
SAIB is a private commercial bank that was established in April 1976. The Bank has its premises in Cairo and operates throughout Egypt with a network of 6 branches. The number of its employees is about 500.
The Bank is rated as the 28th among the banks of the country with net profits that the recent years reach the amount of $10M per year.
The contract signed in February 2001 for an amount of about $1.600.000. The total work includes the installation and implementation of TEMENOS GLOBUS™ in all areas of operations of the Bank, in its Head Office and its Branches as well, related to Retail, Corporate Banking and Treasury activities.
In detail, the installation includes integrated applications such as: Accounts, Customers, Commercial Loans (Collaterals and Limits), incorporated Accounting (GL) with Profitability Analysis, as well as Foreign Exchange, Money Market and Securities & Portfolio Management applications.
The implementation is expected to be completed before the end of 2002.
The implementation has been undertaken by both TEMENOS EASTERN EUROPE and INFORMER SA
This is the third TEMENOS GLOBUSTM installation in Egypt. The other two are in MASHREQ BANK and NATIONAL BANK OF GREECE in Egypt..
