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Best Egyptian Bank in Major Project Financing for 2020
For the Second Consecutive Year, World Union of Arab Bankers Names Banque Misr the Best Egyptian Bank in Major Projects Financing – 2020
The World Union of Arab Bankers honored Mr. Mohamed El-Etreby – Chairman of Banque Misr – on the occasion of the Bank’s attainment of the award for “Best Egyptian Bank in Major Projects Financing”, during a ceremony held in Beirut, Lebanon on Friday, 18th December 2020. In selecting the winners, WUAB considers a set of internationals standards as well as the opinions of a select panel of specialized analysts. In his capacity as Chairman of the Federation of Egyptian Banks, Mr. El-Etreby also received the award for “Outstanding Performance of the Federation of Egyptian Banks in Facing the COVID-19 Crisis”, thanks to the exceptional efforts exerted by FEB since declaring the coronavirus a global pandemic, insofar as prioritizing the health and safety of banking sector employees and customers.
The Bank’s attainment of this accolade manifests its status as one of the largest and leading national banks in the field of financing major projects in various sectors. The Bank managed to complete the arrangement, financing and participation in 9 financing transactions totaling EGP 81.33 billion from 01/07/2019 to 30/6/2020 in a multitude of industries including real estate investment, contracting, petroleum and gas, building materials and financial services. Banque Misr’s coverage guarantee in the aforementioned deals amounts to approximately EGP 32 billion.
In light of the intensive marketing plans adopted by the Bank to attract new customers and financing transactions, coupled with its commitment to realizing strategic and development objectives with the aim of supporting the national economy in all sectors and domains, Banque Misr currently seeks to complete 25 major financing transactions – targeted and under consideration – in various industries such as real estate investment, land transport, petroleum and gas, agricultural crops, fertilizers, petrochemicals, contracting, education, tourism and others, valued around EGP 120.32 billion. Banque Misr’s anticipated coverage guarantee in such transactions amounts to approximately EGP 28.21 billion and underscores the Bank’s pioneering role as a leading national bank in the Egyptian banking market.
Owing to the efforts recently exerted in the field of corporate credit and syndicated loans, Banque Misr has succeeded in attaining a number of awards; among which is securing first place in the Egyptian banking market in arranging and marketing syndicated loans for 2019, according to Bloomberg international – a renowned expert in finance and banking. Bloomberg had also announced that Banque Misr achieved fifth place in its syndicated loans list for 2019, as the best financing marketer; and sixth place as principal arranger of syndicated loans in Africa – among other global banks. The Bank also achieved fifteenth place as the best finance marketer in the Middle East and North Africa; upholding its continuous success in this field since 2015 and in realizing exceptional results insofar as arranging and marketing syndicated loans, as well as financing projects across the African continent.
The Bank’s acquisition of this extensive list of awards and accolades comes as a certificate of entitlement to the trust and confidence of its customers, who are considered mainstays in its endeavors. The Bank consistently seeks to improve its services, maintain its long-term success and effectively participate in offering services that fulfil the needs of its customers; since the values and strategies of Banque Misr reflect its commitment and dedication to sustainable development and to achieving prosperity for Egypt.
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