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Western Union More Than Doubles Agent Locations In Egypt; Signs Money Transfer Agreement With AlexBank

Bassel Rahmy, ALEXBANK's Director of Retail and SME Banking, Bruno Gamba, Chairman of ALEXBANK and Jean Claude Farah, Western Union's Senior Vice President, Middle East and Africa

About Western Union

The Western Union Company (NYSE: WU) is a leader in global payment services. Together with its Vigo, Orlandi Valuta, Pago Facil and Western Union Business Solutions branded payment services, Western Union provides consumers and businesses with fast, reliable and convenient ways to send and receive money around the world, to send payments and to purchase money orders. As of September 30, 2012, the Western Union, Vigo and Orlandi Valuta branded services were offered through a combined network of approximately 515,000 agent locations in 200 countries and territories. In 2011, The Western Union Company completed 226 million consumer-to-consumer transactions worldwide, moving $81 billion of principal between consumers, and 425 million business payments. For more information, visit http://www.westernunion.com.

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2. 2013 Migration and Development Brief of the World Bank

About AlexBank

AlexBank is one of Egypt's leading private sector banks. Established in 1957, the bank later sold 70.25% of its shares to the Italian group Intesa Sanpaolo. The IFC subsequently became a shareholder, acquiring 9.75% of the bank. AlexBank has since launched an ambitious development strategy to move in line with Intesa Sanpaolo's innovative systems and platforms and has recently set the standard for branch design, IT infrastructure, services and a portfolio of financial services. With a country wide network of 180 branches and over 1.5 million customers, AlexBank represents Egypt's largest private sector bank in terms of branch network and one of the largest in terms of deposits with an 8% market share.

For more information, visit http://www.AlexBank.com

SOURCE Western Union

Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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