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Banque Misr is one of the first banks to fulfill the Central Bank of Egypt requirements to boost the Egyptian economy with 20% of its entire credit portfolio dedicated to funding SMEs
The growth rate of the finance and microfinance of SMEs in Banque Misr has witnessed a boom as it jumped to 20% of the entire credit portfolio of the bank ahead of the schedule set by the Central Bank of Egypt, which ends on 1/1/2020. The Egyptian state, represented by the Central Bank of Egypt, has urged banks to increase their SME funding portfolio to reach 20% of their entire credit portfolio, in light of its belief in the great impact SMEs have on the national economy, and the pressing need to integrate youth, women, and various social segments in the economy, which will be reflected on employment rates and personal income, and in turn on national income as a result of increased production and meeting market demand.
In its efforts to boost the SME financing and micro-financing sector, Banque Misr has worked on several axes; such as the development of its business and operational systems, full restructuring, and decentralization of credit granting, while setting clear and strong standards to guarantee a good credit score and avoid default. And since human resources are a key pillar of change and development in Banque Misr, 19,000 training hours were delivered to the employees serving the SME sector in order to develop their skills and competencies to improve the quality of the service provided. In addition, the number of employees serving the SME sector in the bank increased to 1138 employees distributed all over Egypt as part of the largest network of branches covering the republic. This is regarded with the utmost importance due to the focal role Banque Misr plays in the national economy.
Banque Misr provides funding to SMEs working in various industrial, agricultural and service sectors through its branches covering the Egyptian governorates. And since the launch of the initiative by the Central Bank of Egypt 4 years ago, the SME and microfinance portfolio reached 26 billion Egyptian pounds by the end of September 2019, with an average growth rate of 120%.
As a solid pillar of the national economy, Banque Misr is keen on financing projects with all sizes due to the importance of the role they play as the engine that drives economic growth. Furthermore, this is consistent with the bank strategy towards the inclusion of all segments of society and their development. In collaboration with the Ministry of Local Development, Banque Misr and several other banks participated in "Mashrouak" (Your Project) program, aiming to provide funding for micro and small projects through the one-window investment system in the  local units spread nationwide. The bank provided 7 billion Egyptian pounds in loans to 80,000 customers by July 2019.
In addition to Mashrouak program, Banque Misr also took part in the "NilePreneurs" initiative, under the auspices of the Central Bank of Egypt. With the support of the banks, two business development centers were established in Sadat city in Menofia governorate and in New Damietta city in Damietta governorate, and a third is under establishment in Luxor governorate. The centers will provide nonfinancial services to entrepreneurs and SMEs. In addition, they will provide banking and nonbanking SMEs with comprehensive nonfinancial services and technical support to aid their growth and expansion, which will in turn provide the banks with quality customers - the centers will direct their customers to the collaborating banks after studying their situation and helping them grow and prosper. The faith of Banque Misr in the human factor as a main pillar of change is again exhibited in its specialized training of the employees at the units. The efforts of Banque Misr do not end there; it has also launched the first design unit "NilePreneurs Design House" in Nile University in 2018, in addition it's working on spreading the initiative to other universities, and it managed to sign protocols with other universities to establish other design houses; such as Ain Shams university, Al Azhar university in Qenna, and The Arab Academy for Science, Technology and maritime transport. These design houses aim at establishing design units and empowering the industry and businesspeople by providing them with the tools that will help them innovate and develop new and existing product to fulfill the consumer demand in a cost effective and credible manner with the highest quality.
In recognition of its continuous efforts in the finance and microfinance of the SME sector, Banque Misr gained many awards, including:
- "Bank of the year for financing SMEs" in Africa for the year 2019, from the “Corporate Livewire” magazine
- "Fastest growing bank in financing SMEs" in Egypt for the year 2018, from the esteemed "International Finance" magazine.
- "Best bank for financing SMEs" in the Middle East and North Africa for the year 2018, from the "Wealth and Finance".
- "Best bank for financing SMEs" for the year 2018, from the British "The European".
- "Best bank for financing SMEs" in Egypt for the year 2018, from the "International Business" magazine.
A true pioneer, Banque Misr is always striving to provide its customers with a distinctive banking experience that keeps abreast with technological development.