Daily News Egypt

Banque Misr records EGP 5bn increase in banking portfolio during last FY - Daily News Egypt

Advertising Area

Advertising Area

Banque Misr records EGP 5bn increase in banking portfolio during last FY

The bank spent more than EGP 40bn on salaries transferred from public and private sector companies 

The value of Banque Misr’s retail banking portfolio registered EGP 14.5bn at the end of June compared to EGP 9.5bn in June 2015, an increase of EGP 5bn at a growth rate of 53%, according to a statement from the bank.

The bank said that the number of e-payment cards issued by the bank reached 4.9m cards, which operate under the smart chip system, qualifying the bank as the second in the market in terms of e-cards.

According to the bank, it ranks first in terms of collecting currency trader transactions, which is calculated according to the number of trader sites contracted with the bank. The bank registered 13,901 sites across all governorates, with the size of traders’ transactions amounting to EGP 6bn annually.

Banque Misr also maintained the top position among banks participating in the Ministry of Finance’s system for automated payroll with a market share of 48% for the eleventh year.

The bank has provided different solutions for automated payroll for companies, and the number of companies contracting with the bank reached 608 companies with 430,000 cards and 51,000 accounts.

The value of salaries transferred to the bank from public and private sector companies amounted to more than EGP 40bn.

The bank has recently opened a number of new branches in order to continue expanding around the country. It now has 575 branches within its network all over the country.

Banque Misr is considered one of the most prevalent banks in the Middle East and Africa, with a considerable global and regional presence in the United Arab Emirates, Lebanon, Paris, Frankfurt, and a large network of correspondents covering countries across the world.

The bank owns a sophisticated network of automated teller machines (ATM), with 1,715 ATMs offering deposit, withdrawal, currency exchange, bills repayment, and donation services.

In terms of the Islamic retail banking sector’s activity, the bank pointed out that it has 36 branches for Islamic transactions, providing various innovative products to serve the customers of these branches, including Islamic credit cards, various Murabaha products, and products to finance micro-enterprises. The bank offered various financing programmes for financing small- and medium-sized enterprises (SMEs) according to the Islamic financing rules.


Advertising Area

Breaking News

No current breaking news

Receive our daily newsletter