27th June 2023MENA
Banque Misr Over a Century of Achievements
Banque Misr (BM) was established in 1920 by the pioneer economist and financial expert Mohamed Talaat Harb Pasha, who spearheaded the concept of investing in national savings and directing them toward economic and social development. Thus, Banque Misr was established as the first wholly Egyptian-owned bank. Banque Misr has funded many businesses spanning across multiple domestic sectors, such as: textiles, insurance, transportation, aviation, entertainment, and filmmaking. Currently, BM owns shares in 157 companies across different fields, ranging from finance, tourism, housing, agriculture and food, and communication and information technology. Banque Misr 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 and 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 in Africa and the middle east for 2019. A true pioneer in the region, Banque Misr 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. Utilizing the latest technology in the banking sector, Banque Misr is constantly looking to expand customer access to banking services. Today, Banque Misr is proud to offer one of Egypt’s largest ATM networks, located across all areas of Egypt. Banque Misr’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 in Egypt, with a total paid-up capital amounting to EGP 15 billion. The bank has more than 800 electronically integrated local branches located nationwide to provide the best and most accessible services to customers. Banque Misr also values its regional and international presence, which includes its five branches in the United Arab Emirates 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 and a global network of correspondents. Banque Misr’s corporate social responsibility (CSR) policy delineates a better future for all; through responsible business, it aims to create value for society and strives for economic achievement. For over a century, the bank succeeded in creating a balance between attaining business growth and integrating social, ecological, and economic efforts. Banque Misr’s CSR priorities are interconnected, the bank’s strategy brings along institutional resilience and a wide civil-society network to foster economic development and community wellbeing. The bank’s strategic efforts are adequately executed against the backdrop of multi-stakeholder engagement and different partnerships to foster climate action, healthcare, education, housing, decent working conditions, responsible supply chains, resource optimization, food security, and equity. For Banque Misr, stimulating national development by reaching vulnerable community segments has proved indispensable. The bank continues to build trust and bridge the gap with unbanked individuals, contributing to job creation and poverty eradication. It also strives for financial inclusion by facilitating secure access to payment methods and all- inclusive banking facilities, as well as incentivizing more sustainable living and production ecosystems. 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 financial solutions fulfill the business requirements of its diversified client base. Our offerings harness the banking experience of the bank’s corporate clients with leading positions in the Egyptian public and private sectors, along with regional and global markets. In line with its continuous efforts to meet and exceed its clients’ expectations, Banque Misr 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 POS network , E-banking services (BM Wallet, phone banking, internet and mobile banking, and e-commerce) , the BMVIP program ,financially-inclusive options (Amman El Masryeen certificate of deposit). Banque Misr provides different financing schemes and non-financial services to micro,small& medium enterprises (MSMEs) for example EL-BATAL, MASHROU’IE, EL-RABEH). Banque Misr’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 specialized 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 and Relationship Management; FI Cash Management and Cross Borders Remittance; Wholesale and 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 Sustainable Development Goals (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 digitization 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 working values and strategies continue to reflect its dedication to sustainable development and prosperity in Egypt.