SUEZ CANAL BANK (SCB)
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 SUEZ CANAL BANK (SCB).
SUEZ CANAL BANK (SCB) is a private commercial bank that is considered one of the leading commercial private banks in Egypt. It was established in 1978 and has its premises in Cairo. The Bank operates throughout Egypt with a network of 20 branches. The number of its employees is more than 1200.
The Bank is ranked among the five leading Banks in Egypt with a sharing capital of 650M Egyptian Pounds and a net profit reaching the amount of $100M Egyptian Pounds.
The contract signed in September 2001 for an amount of about $2.000.000. 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), Letters of Credits (L/C), incorporated Accounting (GL) with Profitability Analysis, full Management Information System as well as Securities & Portfolio Management applications.
The implementation is expected to complete before in the beginning of 2003.
The implementation has been undertaken by both TEMENOS EASTERN EUROPE and INFORMER SA.
This installation is the 4th of TEMENOS GLOBUSTM in Egypt. The other three are in MASHREQ BANK, National Bank of Greece in Egypt and Societe Arabe Internationale de Banque.
By this occasion TEMENOS EASTERN EUROPE is going soon to create her own company or participate in a company which already exists in Cairo.
