Banque Misr Named First and Only Egyptian Bank in Arranging Syndicated Loans in MENA and Second in Promoting Project Finance Loans in EMEA According to Bloomberg
In light of its ongoing commitment to pursue its leading role in financing vital projects to accelerate development, and of its commitment to achieving strategic objectives that support the national economy, Banque Misr was recognized for its ongoing projects.
Banque Misr was named in two top positions among the top 20 Global Financial Institutions in Europe, the Middle East and Africa (EMEA) and in the Middle East and North Africa (MENA). BM also succeeded in reaching a competitive position with respect to market share despite the tumultuous times in the Egyptian economy due to an interruption in productivity.
As per the Q1 2012 results, Banque Misr ranked first in Arranging Syndicated Loans among top financial institutions in EMEA, an improvement from the same quarter 2011 when they ranked third. BM ranked 15th, sharing the same position with NBE and BDC in Q1 2012. The Bank was also awarded the second position in Promoting Loans in MENA compared to the ninth position they held in Q1 2011.
The most prominent achievement was Banque Misr’s coming in second in Marketing Project Finance Loans in EMEA compared to 12th place in Q1 2011. Furthermore, the Bank placed 13th in Arranging Project Finance Loans in EMEA compared to 28th in Q1, 2011. In addition, the bank was ranked 17th as the best arranger bank of syndicated loans in MENA. This ranking came in the quarterly issue of Bloomberg in 2012
The above rankings were based on the quarterly reports issued by Bloomberg, which is recognized for providing crucial important data on the global banking system and the economy in general.
These results are a testament to the Bank’s tangible and prominent achievements on the corporate level and in the field of syndicated loans, including the arrangement of huge financial transactions for multiple projects in various sectors, including food and beverage industries, pharmaceuticals, tourism, fertilizers, oil and gas, construction materials, infrastructure, and telecommunications. Banque Misr has arranged 2 syndicated loans during Q1 2012 with a total contribution of US$117.5 million in an effort to maintain its leading role and active participation in national projects in order to accelerate economic progress.