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Banque Misr Named "Best Bank in Managing Cash Funds and Short-Term Investments" for Twelfth Consecutive Year by Global Finance Magazine
Banque Misr achieved this year's award for "Best Bank in Managing Cash Funds and Short-Term Investments in the Middle East – 2020" for the twelfth consecutive time from Global Finance magazine, which is considered one of the most specialized magazines in the world. Based in New York, the Magazine utilizes a complex matrix of international financial criteria in the selection of award winners and gauges 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 quality, market share, competitive rates and adoption of state-of-the-art banking technologies, in comparison to other banks. In continuing its long-held legacy, Banque Misr also won the award for "Best Bank in Managing Cash, Liquidity and Cash Funds in Africa and the Middle East - 2009 and 2010" and in the Middle East for 2008, 2012, 2013, 2014 and 2015; and "Best Bank in Managing Cash Funds and Short-Term Investments in the Middle East" for 2015, 2016, 2017 and 2018.
Attaining this award for a twelfth time asserts Banque Misr's leading and pioneering status in the field of investment; whereby its cash investment funds continue to achieve the highest rates of return across the Middle East. This is due to the effective management of all funds through the mutual cooperation forged with specialized portfolio and fund management companies. Furthermore, Banque Misr offers a wide range of investment funds in line with market changes and up to date banking techniques that meet all the requirements of its retail and corporate customers and investors. This is in addition to providing all services pertaining to financial and investment markets; such as investment bank services, custodian services, securities, promotion and issuance of bonds, real estate marketing and development and investment trustee services.
The Bank's Financial Markets and Investments Sector manages the direct investment portfolio; which spans a multitude of sectors including tourism, services, construction, housing, agriculture, food, information technology and telecommunications – amongst others. Banque Misr acquired stakes in some 157 companies, at a total capital of up to EGP 435 billion as at 31st December 2019 and during the fiscal year 2019/2020 and until year end 2019, the Bank succeeded in partaking in private equity activities and direct investment, by investing approximately EGP 4.4 billion in 13 companies, at a total capital of EGP 8.9 billion.
Banque Misr has also fared well in the Debt Capital Markets category, where it firmly maintained its market share and leading position from 2014 to 2019. The Bank's market share exceeded 40% owing to the adoption of an integrated strategy – insofar as financial markets and investment – by expanding its participation in managing, arranging, promoting and guaranteeing coverage of underwriting in local fixed income instruments for corporations and companies, in some of the largest and most prominent bond issuance transactions. This is coupled with boosting its corporate bonds portfolio – whether securitization or corporate bonds – which enabled Banque Misr to continue to maintain the lion's share in the market, as well as an increased return on these bonds. Since 2010, the Bank has partaken in arranging, promoting and guaranteeing the coverage of 32 issuances, whose value exceeded EGP 30 billion. Its portfolio currently stands at approximately EGP 5.5 billion.
Banque Misr has attained 23 awards and top rankings in 2019 from some of the most renowned global institutions and magazines. These accolades crown the Bank's continuous efforts, assert its capability of consistently achieving robust performance levels and also confirms the strength of its financial solvency and stable position. Banque Misr's ability to achieve higher growth emphasizes the success of its strategy and ability to diversify its assets; as manifested in the Bank's acquisition of the largest customer base for funds. The Bank continuously seeks to develop and enhance the value of services availed to customers, so as to fulfil their various needs and requirements, utilizing cutting-edge technologies with the aim of providing its offerings in a more efficient manner.
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