By combining banking innovation with customer service excellence and progressive CSR initiatives, Banque Misr continues to set the standards in the MENA region
Banque Misr (BM) was established in 1920 by the pioneering economist Mohamed Talaat Harb Pasha, who spearheaded the concept of investing in national savings and directing them towards economic and social development.
The first wholly Egyptian-owned bank, BM has funded many businesses across a range of diverse sectors, including, textiles, insurance, transport, aviation, entertainment, and filmmaking. Currently, BM owns shares in 157 companies across different fields, ranging from finance, tourism, housing, agriculture and food, to communication and information technology.
BM has also established major investment funds in Egypt, as part of a diversified portfolio. Banque Misr was granted an award by the Global Finance Magazine as the “Best Provider of Money Market Funds in Africa & the Middle East” for the years 2009 and 2010; “Best Provider of Money Market Funds in the Middle East” for 2008, 2012, 2013, 2014, and 2015; and “Best Provider of Short-Term Investments/Money Market Funds in the Middle East” for the years 2015, 2016, 2017, 2018, 2020, 2021, 2022 and 2023, while receiving this award for Africa and the Middle East in 2019.
A true pioneer in the MENA region, BM became the first bank in Egypt and North Africa to comply with PCI data security standards, upon obtaining the latest version of the global Payment Card Industry Data Security Standard (PCI DSS 3.2.1) certification. Utilising the latest technology in the banking sector, BM is constantly looking to expand customer access to banking services. Today, Banque Misr is proud to offer one of Egypt’s largest ATM networks across all areas of the country.
Led by Chairman Mohamed El-Etreby, BM’s role is visible in all economic fields due to its geographic outreach. The bank has more than 20,000 employees, serving a large base of more than 13 million clients across Egypt, with a total paid-up capital of EGP15bn.
The bank has more than 800 electronically integrated branches located nationwide to provide the best and most accessible services to customers. BM also values its regional and international presence, which includes five branches in the UAE, and one in France. In addition, the bank’s international presence includes subsidiaries in Lebanon and Germany, as well as representative offices in China, Russia, South Korea, and Italy, plus a global network of correspondents.
Building for a better tomorrow
Through its CSR policy BM aims to deliver a better future for all, and the bank believes that through responsible business, true value can be delivered to the people of Egypt. For over a century, the bank has succeeded in creating a balance between attaining commercial growth and driving progress in social, ecological, and economic areas. BM’s CSR priorities are interconnected, its strategy brings institutional resilience and a wide social network that fosters economic development and community wellbeing.
The bank’s strategic efforts are executed against a backdrop of multi-stakeholder engagement and different partnerships to foster climate action, healthcare, education, housing, decent working conditions, responsible supply chains, resource optimisation, food security, and equity. For BM, stimulating national development by reaching vulnerable community segments has proved indispensable. The bank continues to build trust and bridge the gap to unbanked individuals, contributing to job creation and eradicating poverty. It also strives for financial inclusion by facilitating secure access to payment methods and all-inclusive banking facilities, as well as incentivising more sustainable living.
Outstanding achievements for Banque Misr’s clientele
The Corporate Banking and Syndicated Loans division offers conventional and Islamic short-, medium-, and long-term facilities, structured trade finance solutions, and bilateral and syndicated financing facilities. The comprehensive range of tailored corporate banking products, services and solutions fulfills the business requirements of its diverse client base. BM provides outstanding service to its corporate clients, among whom hold leading positions in the Egyptian public and private sectors, along with representatives from across regional and global markets.
In line with its continuous efforts to meet and exceed its clients’ expectations, BM offers state-of-the-art products and services that include: a wide range of loans, including:
- Personal, auto, mortgage, durable goods, etc.
- All types of cards (debit, prepaid, and credit);
- Various liabilities products (deposits, certificates of deposits, and accounts);
- The largest Point of Sale (POS) network in Egypt and e-Banking services, including BM Wallet, phone banking, internet and mobile banking, and e-commerce;
- The BMVIP programme, financially-inclusive options (Amman El Masryeen certificate of deposit);
- Different financing schemes and non-financial services to MSMEs (e.g. EL-BATAL, MASHROU’IE, EL-RABEH).
BM’s Capital Markets Group primarily aims to maintain the bank’s leading position in Egypt’s capital market and ensure that its financial management and specialised investment services are the product of choice in the retail and corporate banking industry. Simultaneously, it also adds value for the bank’s stakeholders.
Banque Misr’s Correspondent Banking & Relationship Management, FI Cash Management & Cross Borders Remittance, Wholesale & Development Funding, and Non-Banking Financial Institutions ensures smooth operations for its corporate and retail clients. Simultaneously, they can leverage the bank’s commitment to the United Nations’ SDGs via development financing, in partnership with development institutions, supranational entities, regional and international banks, and governmental agencies. The Treasury Department plays a crucial role in achieving the bank’s main goals, and maintaining sufficient liquidity through various tools, in order to meet the retail and corporate customers’ financing needs. It also invests liquidity surplus to achieve maximum returns while maintaining risks at a very low level.
Moreover, the Treasury Department provides solutions through different financial and engineering tools, and it helps finance the public debt by playing an active role in the primary and secondary markets and diversified types of mutual funds.
The Global Transaction Banking (GTB) division ensures cash management excellence for strategic corporate customers, and understands the importance of unleashing the full potential of the trade finance ecosystem internationally. In this light, GTB offers a host of high-quality trade finance services through efficient financial instruments, including letters of credit, documentary collections, and letters of guarantee. It also streamlines working capital management through its treasury services.
BM supports digitisation efforts through offering online solutions to facilitate ease of use for clients and offers accessible and advanced banking and financial solutions. The bank further enhances its success and effective participation in offering services and through joining initiatives and protocols to fulfill a variety of client segments’ needs. BM’s values and strategies continue to reflect its dedication to sustainable development and prosperity in Egypt.
Further information – www.banquemisr.com