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Banque Misr Ranks First Amongst Banks Operating in Egypt and Maintains its Lead in Arranging and Promoting Syndicated Loans According to Bloomberg
Banque Misr achieved first place in the Egyptian banking market for arranging and promoting syndicated loans for 2019 according to Bloomberg, an acclaimed global organization specialized in banking and finance. The recognition comes as a result of the Bank's completion of 13 syndicated financing deals, at a total value of approximately 1.415 billion USD (equivalent to around 22.725 billion EGP), in which Banque Misr played the role of principal arranger.
This is in addition to finalizing 12 financing deals at a total value of 1.636 billion USD (equivalent to approximately 26.275 billion EGP) in which the Bank assumed the role of promoter; of the total financing operations performed by the largest 20 banks in Africa. Bloomberg had announced that Banque Misr achieved fifth place in the list of syndicated loans in 2019, as the best financing promoter; as well as ranking sixth as a principal arranger of syndicated loans in the African continent. The Bank also achieved fifteenth place in the list of best financing promoters in the Middle East and North Africa.
Banque Misr continues to lead Egyptian banks and maintain its position as forerunner across the Middle East and Africa for the past six years in the area of promoting, managing and arranging syndicated loans and project financing, according to the assessment performed by Bloomberg. This reflects the notable success achieved by the Bank's corporate credit and loans sector and asserts the exceptional performance, robust financial results and continuity of extensive marketing plans adopted in attracting new customers and financing operations. This is coupled with the Bank's commitment to implement its strategic and development objectives that are geared towards supporting the national economy in various fields and sectors.
Banque Misr's attainment of this classification by Bloomberg complements the success of its corporate credit and syndicated loans sector, having obtained numerous awards, amongst which was ranking third in the African continent insofar as promoting syndicated loans and project financing, with a market share of 5% as per the Bloomberg evaluation of 2018. Banque Misr came in fifth in syndicated loan arrangement and project financing in the African continent with a market share of 3.5%; and has been achieving advanced rankings in these classifications since 2015 by continuing to build on previous success. The Bank has consistently performed well in the category of arranging, promoting and managing syndicated loans and project financing on a continental level; in addition to earning the award for "Best Egyptian Bank in Arranging Syndicated Loans and Project Financing in 2018" from the Federation of Arab Bankers. Moreover, Banque Misr attained the "Best Bank in Project Financing – Africa 2017" for the third consecutive time, from EMEA Finance.
Worth noting is that the ranking attained by Banque Misr is for its role as principal arranger and promoter of syndicated loans, which is a key role based on careful consideration and skilful marketing; while reflecting sound relations with both customers – in favor of whom said loans are being arranged – as well as banks invited to partake in the operation. The Bank's first place ranking amongst Egyptian banks comes in recognition of its instrumental financing of various economic activities in sectors such as petroleum, chemicals, petrochemicals, communications, renewable energy, steel and real estate activities. It also emphasizes the role played by Banque Misr in supporting the Egyptian economy.
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 to provide all clients with innovative services and products that consistently fulfil their needs.
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