QNB Group Secures Central Bank of Egypt Licence for New Digital Bank 'ezbank'

QNB Group, the largest financial institution in the Middle East and Africa, has received licence approval from the Central Bank of Egypt to launch a new digital-first bank under the name "ezbank".

Announced on 7 October 2025 from QNB's Doha headquarters, the approval positions the Group to enter one of the region's most underbanked markets. Egypt's banking penetration sits at around 30 percent, while mobile phone subscriptions exceed 96 million, covering 92.7 percent of the population - a gap QNB clearly intends to close from the digital side.

A mobile-first, AI-driven proposition

ezbank will combine QNB's international banking standards with advanced digital technology, delivering financial services through mobile-first platforms, AI-driven tools and smart risk management. The entity is pitched as a standalone digital bank rather than a channel extension of QNB's existing Egyptian footprint.

The launch aligns with the Central Bank of Egypt's broader financial inclusion and digital transformation agenda, which has been steadily opening the door to digital-only banking licences as part of the country's Vision 2030 economic programme.

Regional context

The move comes as QNB accelerates its digital banking investments across the region. The same corporate group is also a shareholder in Saudi Arabia's newly licensed EZ Bank (not to be confused with Egypt's ezbank), alongside Ajlan & Bros Holding Group.

QNB Group operates in more than 28 countries across Asia, Europe and Africa, with a workforce of over 31,000. It is ranked as the most valuable banking brand in the MEA region.

For Egypt's banking sector, ezbank adds meaningful competition in a market where incumbent banks have been slow to roll out true digital-native propositions - and where a 70 percent unbanked opportunity is still waiting to be served.