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Banque Misr is the main sponsor for "Artigiano" exhibition for handicrafts in Italy with Egypt as the guest of honor
Against the backdrop of Egypt participating as the guest of honor in "Artigiano" for the year 2019, Banque Misr sponsored the handicrafts and traditional crafts exhibition in Italy. And over an area of 500 square meters, more than 50 exhibitors participate with their different products in the Egyptian pavilion. Artigiano is considered the most important commercial event for consumers in the world; it celebrates artisans and small enterprises and their creations. It is visited by more than one million and 300 thousand visitors, and is considered a high quality product shopping destination. Hence, Banque Misr provided its SME and microfinance customers with its full support to participate in the handicrafts exhibition which opens foreign markets and creates export opportunities for them as part of the bank's continuous efforts to provide is customers with new and diverse products. The exhibition was held from 30/11/2019 to 8/12/2019.
Banque Misr's sponsorship of this exhibition fits within the framework of the effective role that Banque Misr plays in implementing the state strategy for supporting and encouraging SMEs an microfinance projects. The exhibition is a great marketing opportunity for the products of the projects funded by Banque Misr. Funding SMEs and microfinance projects is a high priority for the bank, which was one of the very first banks to comply with the Central Bank of Egypt requirements, with its SME portfolio reaching 20% of its entire credit portfolio even before the CBE deadline of 01/01/2019. This has a huge impact on the national economy, and goes in line with the government strategy and its emphasis on the important role that these projects plays as a driving engine for sustainable development and the opportunities they provide for the inclusion of youth, women, and various segments of the society, which in turn leads to the decrease of unemployment rates, and the increase of personal income, and accordingly national income rates through the increase of production, and covering local market demand.
Banque Misr provides SMEs and microfinance projects with funding through its numerous branches in all governorates, and in various industrial, agricultural and service sectors. The bank's portfolio for SME and microfinance project funding reached around 26 billion Egyptian pounds by the end of September, 2019, with an average growth rate of 120% over four years since the launch of the CBE initiative.
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. This award strengthens the trust of Banque Misr's customers who have always been at the center of all its operations. Banque Misr always strives to provide its customers with state-of-the-art products and services to fulfill their current and future needs.
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