Banque Misr was established in 1920 by pioneering Egyptian economist Mohamed Talaat Harb Pasha. Mr Harb was the first to introduce Egypt to the concept of investing in national savings in favour of economic and social development projects, making Banque Misr the first national bank to be wholly owned by Egyptians.
Over the past 97 years, Banque Misr has funded several major projects and contributed to the establishment of 160 companies across various sectors, offering a wide range of banking services, with a particular focus on arranging highly-structured debt-based financing schemes.
In addition, the bank has established major investment funds in Egypt as part of a plan to create a diversified portfolio. In response, Global Finance Magazine named Banque Misr as “Best Provider of Money Market Funds in Africa and the Middle East” for 2009 and 2010, and “Best Provider of Money Market Funds in the Middle East” 2008, 2012, 2013, 2014, and 2015. Global Finance Magazine also named the bank “Best Provider of Money Market Funds and Short-Term Investments in the Middle East” for 2015, 2016, 2017 and 2018.
The bank also won the “Best Mandated Lead Arranger in Egypt” award and was ranked second in the Bloomberg’s Global Syndicated Loans League Tables for the “Best Bookrunner and Mandated Lead Arranger across Africa” for the third quarter of 2017.
Moreover, Banque Misr has maintained its leading position among Egyptian banks, by ranking fifth in the “Best Bookrunners” list across the Middle East and North Africa, and sixth in the “Mandated Lead Arrangers” list across the Middle East region for the third quarter of 2017.
Ahead of the curve
As a true pioneer in the MENA region, Banque Misr has become the first bank in Egypt and North Africa to comply with PCI data security standards by obtaining the latest version of the global Payment Card Industry Data Security Standard (PCI DSS 3.2) certification. Banque Misr is constantly expanding its customers’ access to banking services by introducing the most cutting-edge technologies and efficiently making use of all its available resources. Today, the bank proudly offers one of the largest ATM networks across Egypt. Banque Misr’s role in all economic fields is unmistakable given its geographic outreach. The bank has about 14,500 employees, serving a large base of more than eight million clients in Egypt, with a total paid-up capital amounting to EGP15bn ($844.6m).
The bank has more than 600 electronically integrated local and external branches, including five branches in the United Arab Emirates and one in France. In addition, it extends its regional and global presence by having subsidiaries in Lebanon and Germany, representative offices in China and Russia, as well as a global network of correspondents. In 2018, the bank plans to launch more representative offices in Italy (Milan), South Korea (Seoul) and in a number of African countries.
Banque Misr always seeks steady progress by achieving long-term sustainable plans, along with increasing awareness of the importance of business ethics and being a responsible corporate citizen through a culture based on governance and compliance. Banque Misr work proactively to ensure that they meet clients’ demands, support the communities it operates in, and actively engages with partners and stakeholders.
The bank became a member of the UN Global Compact for the years 2015, 2016 and 2017, and is the first state-owned bank to issue an annual sustainability report in accordance with the internationally recognised Global Reporting Initiative (GRI) for the third year.
Banque Misr is led by Chairman Mohamed El-Etreby, who has over 35 years of experience across key areas of the financial services.