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Banque Misr seeks to seal funding deals worth EGP 81.3bn in different economic sectors - Daily News Egypt

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Banque Misr seeks to seal funding deals worth EGP 81.3bn in different economic sectors

The bank has arranged loans worth EGP 32.9bn in FY 2016/2017, from which several sectors benefitted, including electricity, public services, and contracting


Banque Misr is seeking to seal a number of major deals that are currently under study and soon to be concluded. The deals are in several sectors, including communications, construction materials, and real estate investment. They are worth approximately EGP 81.3bn.

The value of the coverage guarantee of Banque Misr in these operations is approximately EGP 28.9bn, which comes within the bank’s role as one of the leading national banks in the Egyptian banking market and a continuation of the intensified marketing plans adopted by the bank to attract new customers and new funding operations. It is also part of the bank’s commitment towards achieving its strategic and development goals in order to support the national economy in all fields and sectors.

During the period extending from early July 2016 to late June 2017, Banque Misr took part in several funding operations worth EGP 32.9bn. The coverage guarantee value in these operations reached EGP 14.3bn.

According to the bank, these loans were injected to finance several projects in several economic sectors, including electricity, public services, and contracting.

Recently, the bank won the first place in the Egyptian banking market for its management and arrangement of joint loans and projects funding, according to a classification prepared by Bloomberg International for the third quarter (Q3) of 2017.

The bank ranked second in managing, marketing, and arranging of joint loans and projects funding across Africa.

At the level of North Africa and the Middle East (MENA) region, the bank managed to rank fifth on the list of best banks in terms of marketing joint loans and financing projects, with a 5% market share. It also ranked sixth in the management and arrangement of joint loans and project financing.

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