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 Banque Misr Liban launches a new branch in the Dahyeh district in southern Beirut

Implementing its expansion plan, geographic outreach and branch development on both the domestic and international level, Banque Misr Liban celebrated the launch of its newest branch, Al Chyah branch in the Dahyeh district, in southern Beirut. The new branch reinforces Banque Misr’s constant commitment to delivering innovative banking product packages and applying state of the art IT systems.

Celebrating the inauguration of the new branch, a reception was hosted, under the auspices of H.E Mr. Mohamed Tawfik, the Egyptian Ambassador to Lebanon. The reception was attended by Mr. Mohamed Abbas, Banque Misr’s Deputy Chairman, Mr. Hady El Nafie, the Executive General Manager of the Banque Misr Liban and Board of Directors, in addition to a number of high profile individuals and financial figures.

Talking about their latest expansion, Mr. El Nafie said that the Al Chyah branch in southern district was a step forward for Banque Misr Liban and was very much align with their strategy to boost their presence through further expansions into the Lebanese market. This expansion is crucial if our innovative products and services are to reach a larger client base, in our major local markets, he added. Al Nafie also highlighted plans for Banque Misr Liban to inaugurate two more branches in Fardan, Beirut and Zalka respectively, with plans for these openings to take place a at the beginning of 2012, adding, additional inaugurations will be announced in the near future.

Banque Misr Liban has active presence in many international markets including France, Germany, and the UAE, in addition to 16 branches in key markets and cities across Lebanon. Banque Misr, which owns 92% of Banque Misr Liban’s shares, has increased the bank’s capital, positively reflecting on Banque Misr Liban’s performance and financial statements. On a similar note, 2010 was the first year for Banque Misr Liban to achieve profits since several years, after the successful settlement of their allocation deficit.