Bloomberg Names Banque Misr the Only Egyptian Bank to Rank Best in Marketing Syndicated Loans and Project Financing in MENA During H1/2015
Banque Misr upholds its prestigious position as a leading bank in marketing syndicated loans and project financing in Africa, according to Bloomberg, one of the top financial ratings institutions globally. Banque Misr ranked second on the list as the best bank in managing and marketing syndicated loans in Africa and is the only Egyptian bank to occupy this prestigious position. Commenting on the results, Bloomberg acknowledged Banque Misr's performance in marketing mega financing deals, with a considerable difference in score compared to Bank of China, the next in the list.
This is the first time any Egyptian bank has occupied this top position in managing and marketing syndicated loans and project financing in Africa within the last three years. European banks, Standard Chartered in particular, have dominated the top positions for years.
Banque Misr also ranked third in managing and marketing syndicated loans and project financing in MENA region, the only Egyptian bank to be listed in the rating. This was made possible by the bank's willingness to maintain its strong presence in the industry as one of the top 20 banks marketing syndicated loans in MENA for the last five years.
The bank has finalized large financing deals worth a total of EGP 41.2 billion from July 1st 2014 to June 30th 2015, including a number of mega projects in electricity, fertilizers, real estate, and oil. The total value of Bank Misr's financing coverage amounted to EGP 9.5 billion. These outstanding achievements were the outcome of the bank's excellence in managing large financing deals for national projects in many key sectors.
Banque Misr played a vital role as a main sponsor of Egypt Economic Development Conference held in March 2015 and is continuing the trend with targeted marketing programs aimed at attracting more customers as well as new financing deals to support the national economy. The bank is now in the process of executing targeted deals in many sectors including specialized contracting, marine transport, electricity and power, estimated at a total value of EGP 43.5 billion. Banque Misr's estimated contributions to these deals amount to EGP 9 billion further highlighting the bank's role as a leading national bank in the banking sector.