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Banque Misr Attains 50 Awards and Accolades, Crowning its Latest Achievements and Endeavors
17/02/2021
Banque Misr has successfully reaped numerous awards in various business sectors during the past period from a number of renowned global institutions, crowning its notable achievements and efforts exerted in fulfilling different endeavors. In the field of financing small and medium enterprises, Banque Misr attained several awards, including: “Best SME Bank - Egypt 2020" from Global Business Outlook magazine; “Best Innovative SME Bank – Egypt 2020” from International Finance magazine; “Best SME Partner Bank – Egypt 2020” from British the European magazine; “Best SME Bank – Egypt – 2020” from International Investor magazine; “SME Bank of the Year – Egypt 2020” from the Digital Banker magazine and “Best SME Bank – Egypt 2020” from Asia Money – Euro Money.
 

In the field of cash fund management, the Bank’s efforts paid off by winning several awards this year, among which was the “Best Bank in Managing Cash Funds and Short-Term Investments in the Middle East – 2020 and 2021” from Global Finance magazine for the thirteenth consecutive time. Based in New York, Global Finance is considered one of the most specialized magazines in the world and utilizes a complex matrix of international financial criteria in the selection of award winners, while also gauging the opinion of a distinguished panel of international analysts and bankers. This award is presented to the most outstanding bank in the Middle East, exhibiting the best indices for profitability, customer service, market share, competitive rates and adoption of state-of-the-art banking technologies, in comparison to other banks. Banque Misr also attained the award for “Deal of the Year – Securitization Africa 2019 and 2020” from the Banker “Financial Times” magazine.

Owing to the Bank’s efforts over the previous period in the field of corporate credit and syndicated loans, Banque Misr has earned many wins in the Middle East and North Africa category according to Bloomberg international, which listed the Bank as second-best financing marketer and principal arranger of syndicated loans in MENA – among other major regional and global banks. This comes following Banque Misr’s completion of 29 syndicated financing operations at a total value of USD 8.9 billion (the equivalent of approximately EGP 136 billion), in which the Bank played the role of principal arranger. This is in addition to 27 financing operations totaling USD 9.1 billion (the equivalent of approximately EGP 142 billion), in which the Bank played the role of financing marketer. This accolade crowns the Bank’s continuous efforts during the past 5 years in the successful arrangement and marketing of syndicated loans. Worth noting is that the ranking achieved by Banque Misr is for its role in syndicated loans – as principal arranger and marketer – which heavily relies on marketing and reflects sound relationships with both clients for which the loans are arranged, as well as the banks invited to participate. The Bank has been instrumental in financing various economic activities in various domains such as the petroleum sector, chemicals and petrochemicals, telecommunications, renewable energy, steel and real estate activities; thus contributing effectively to the national economy. The Bank was also named ““Best Egyptian Bank in Major Projects Financing – 2019 and 2020” by the World Union of Arab Bankers.

In the area of Islamic banking, Banque Misr succeeded in attaining several awards, including “Deal of the Year (Islamic Finance) Africa - 2020” from The Banker Financial Times magazine; “Best Bank for Islamic Banking – Egypt” for 2019 and 2020 from International Business magazine; “Best Bank for Islamic Transactions – Egypt” for the years 2019 and 2020 from Global Banking and Finance Review magazine and “Best Islamic Banking Services – Egypt 2020” from The Global Economics magazine.

Banque Misr also achieved several international awards in the field of corporate social responsibility, among which was the award for “Best CSR Bank – Egypt” from International Business magazine for the years 2018, 2019 and 2020; “Best CSR Bank – Egypt” from International Finance magazine for 2019 and 2020; “Best CSR Bank - Egypt” for 2019 and 2020 from Global Banking and Finance Review; “Best CSR Bank – Egypt 2020” from Cosmopolitan The Daily magazine; and “Best CSR Bank – Middle East 2020” from Asia Money – Euro Money.

In the category of banking products for corporations and financial institutions, the Bank won the award for “Fastest Growing Trade Finance Bank - Egypt” for the years 2018, 2019 and 2020; and the “Fastest Growing Cash Management – Egypt” for 2018 and 2020 from Global Banking and Finance Review magazine. The Bank attained first classification as the “Best Service Provider – Egypt and Africa 2020” and “Pioneer of the Egyptian Market 2020” according to Euro Money’s survey of cash management solutions. Banque Misr was also named “Egypt Domestic Cash Management Bank of the Year – 2020” from Asian Banking and Finance magazine and received the first ranking as the best service provider for non-financial institutions in Egypt and Africa – 2020”according to a cash solutions management survey conducted by Euromoney magazine, for the second consecutive year (for Egypt).

The Bank also attained 5 awards recently from British the European magazine in the funds, correspondents and financial institutions category; namely “Best Treasury Management Bank”, “Best Liquidity Management Bank”; “Best Fixed Income Bank”; “Best Foreign Exchange Bank” and “Best Liquidity Foreign Exchange Bank” in the Middle East and Africa 2021. Worth noting is that these awards are granted to the winning bank on the basis of a number of technical criteria, via which the bank’s performance is analyzed, with the winning assessments being based on a set of performance and strategy-based standards, in addition to the evaluation of a panel of multi-disciplined experts.

The awards by British the European magazine crown Banque Misr’s efforts in the funds, correspondents and financial institutions sector, as well as the role of the Bank’s treasury sector, which has been pivotal in managing liquidity through various instruments in order to fulfil the funding needs of both individuals and corporates. This is together with investing surplus funds to optimize revenues and manage risks. Moreover, the sector provides tailored solutions that surpass products and services to include various financial and engineering tools; while being one of the most active players in covering the issuances of the Ministry of Finance for servicing public debts and maintaining a favorable status in the secondary market. The funds sector also renders to its retail and corporate customers monetary management services – both local and international – including the financing of commercial activities and currency exchange transactions. Banque Misr also provisions an extensive range of services that support customers in realizing their goals, externally. The Bank has built a sound reputation for being one of the best providers of fund, correspondent and financial institution services globally, thanks to innovating money-saving and cost-effective solutions.

Moreover, Banque Misr recently attained the award for “Best Human Resources Strategy – Egypt 2020” from The Digital Banker, owing to its firm belief that it’s employees are its most important asset; and that the strength of the business sector lies in its apt and experienced leaders. Banque Misr has always attached great importance to implementing the principles of governance with regards to human resources; from equitable recruitment practices to providing equal opportunities for all workers, prohibiting discrimination on the basis of ethnicity, religion, political beliefs, gender and any other basis. The Bank also respects the right to join labor unions and adopts an exceptional program for qualifying its employees to assume their roles, by developing policies and advanced training schemes that encompass all aspects of banking.

The Bank also achieved an advanced ranking in the list of best 1000 banks from The Banker magazine – “Financial Times”; as well as several awards from Global Brands magazine as follows: “Best Retail Banking Brand – Egypt 2020”; Best Customer-Centric Banking Brand – Egypt 2020” and “Best Corporate Banking Brand – Egypt” for 2019 and 2020. This is in addition to “Banking Brand of the Year – Egypt” from Global Banking and Finance Review; “Innovative Digital Bank of the Year – MENA 2020” from The European magazine”; “Most Innovative Bank – Egypt 2021” from International Investor magazine; “Most Innovative Digital Bank – Egypt 2020” and “Fastest Growing Banking Transactions Bank – Egypt 2020” from The Global Economics. The Bank also attained the award for “Best Regional Bank of the Year for the Belt and Road Initiative (the Middle East and Africa) 2020 for the third consecutive year from Asia Money – Euro Money and “Best Brand – 2020 in Asia and GCC” from Asia One magazine.

Mr. Mohamed El-Etreby – Chairman of Banque Misr – had achieved numerous honorary awards, owing to his pivotal role in serving the national economy, such as “Fakhr Al Arab 2020” – outstanding banking leadership category, awarded to the most influential personalities in the economy and comprehensive development; whereby the nominees are shortlisted based on a set of criteria, most notable of which is the impact achieved in their communities, positive strength, contribution towards realizing the objectives of the state and the community.

The General Secretariat of the “Arab Best” Award selected Mr. Mohamed El-Etreby – the Chairman of the Board of Banque Misr – among the Top 100 Arab CEOs in 2020 – for the third consecutive time. The virtual event was organized by the award’s General Secretariat and was held via videoconference, with the accolade being awarded to the most influential personalities in the domain of economy and comprehensive development. The award aims to shed light on Arab CEOs whose managerial experience constituted a turning point in their respective careers in the field of economy, advancement and comprehensive development.

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.