Egypt’s Bank NXT is handing more of its payments plumbing to an outside processor. The bank has extended its work with Network International, a payments company based in the Middle East and Africa, and will move its ATM and debit card portfolio onto Network’s end-to-end processing platform. The press release was published on October 11. The bank says the change will make operations smoother, tighten security controls and improve the customer experience. It also says the move supports its expansion plans by building trust among current and new customers.
Those are the stated goals. The numbers behind them were not shared. The announcement does not say how many cards or ATMs are involved, when the migration will happen, what it costs or how long the new contract runs. It also does not describe the earlier arrangement between the two firms, so we cannot say how much of the work is new. Treat words like “robust” and “seamless” in the executive quotes as marketing until the bank reports results, such as fewer failed transactions or faster launches of new card features.
Here is what we can confirm about the bank. Bank NXT was formerly known as aiBANK. It was founded in 1974 as an investment and business bank and began operating under the Central Bank of Egypt’s supervision in 1978. It serves retail and corporate customers through 37 branches, and says it is expanding its branch and ATM networks. EFG Holding owns 51% of the bank. The Egypt Financial Services and Digital Transformation Sub-Fund holds 25%, and the National Investment Bank holds 24%.
The bank has also been adding capital. Its board approved a cash increase of EGP 4.2 billion in August 2025, which lifted issued and paid-in capital to EGP 9.9 billion. EFG Hermes announced in November 2025 that the increase was complete, with all shareholders taking part and EFG Holding keeping its 51% stake. A bigger capital base gives a bank more room to spend on technology, but nothing in the announcement links the two.
Network International says it works in more than 50 countries with over 3,000 employees, more than 250 financial institutions and over 240,000 merchants. Its own website gives older and narrower figures: services in more than 40 African countries, and payments processed for more than 130,000 merchants in 2023. The gap likely reflects different regions and years, but the announcement does not explain it. Network also agreed in 2023 to a takeover by Brookfield valued at about £2.2 billion, and we could not confirm its current ownership or listing status.
The move fits a wider shift in Egyptian payments. Central Bank of Egypt Governor Hassan Abdalla said on September 29 that the country’s instant payment network handled about 1.47 billion transactions worth about EGP 4.33 trillion in the second quarter of 2026, with about 22 million registered customers. That network moves money between accounts. Cards and ATMs are a different channel, so the figures show how fast digital payments are growing, not how many cards Bank NXT issues.
For fintech founders, the lesson is about who owns the infrastructure. Many banks rent their card processing, and the choice of processor shapes how quickly a bank can launch features, connect to partners and handle fraud. A card migration is also a risk, because customers can face declined payments or ATM outages if the cutover goes badly. Startups that sell to Egyptian banks should ask which processor a bank uses before pitching, since it decides what the bank can integrate. The next signals to watch are the migration date, any disruption reported by customers, and new card or digital features that Bank NXT launches on the platform.
Sources: Zawya press release on the Bank NXT and Network International extension; Arab Finance (summary only, full text unavailable); EFG Hermes on the Bank NXT capital increase; Network International, who we are; Electronic Payments International on the Brookfield offer; Ahram Online on Egypt’s instant payment network; Bank NXT.
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