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Compliance and Governance
Banque Misr New Identity
Custody Securites & Services
Mutual Funds Prices
Micro finance projects
Small enterprises projects
Medium enterprises credit projects
Nile Pioneers Initiative
Regional and Foreign Branches
The correspondents of Arab banks
Notable Achievements Attained by Banque Misr Across All Sectors for the Fiscal Year 2018/2019
Initial financial performance indicators have shown substantial growth across all sectors, with Banque Misr witnessing an exponential increase in the volume of business activities in the current year. The overall financial position increased to 968 billion EGP as at 30/6/2019, compared to 884 billion EGP the previous year, at a growth rate of approximately 9.5%. Customer deposits also rose by around 76.2 billion EGP, reaching 745.8 billion EGP, compared to 669.6 billion EGP as at 30/6/2018, at a growth rate of 11.4%. Similarly, net customer loans increased to 272 billion EGP, compared to 221 billion EGP the previous year, at a growth rate of 23.1%. Non-performing loans to total loans amounted to a mere 2.08% at a coverage of 96.7%, with the remainder being covered by in-kind guarantees. This came as a result of settlements reached with a large number of customers, as well as concluding new settlements amounting to 3.7 billion EGP. Collection of irregular debts from clients amounted to approximately 1.9 billion EGP, despite the current economic challenges and their repercussions on the banking sector as a whole.
The Bank's retail portfolio recorded 37.8 billion EGP as at 30/6/2019, compared to 26.9 billion EGP in 6/2018, filing an increase of 10.9 billion EGP over and above the previous year, at a growth rate of 40.5%. The number of issued cards exceeded 8.6 million; the majority of which operate on a smart chip system, ranking the Bank in second place amongst its Egyptian counterparts for the number of issued electronic payment cards. Locations of vendors conducting business with the Bank numbered some 18,707 locations throughout the governorates of Egypt, with the total volume of transactions (devices, POS, e-commerce) exceeding 18.3 billion EGP per annum. The Bank provides the most up-to-date version 3.2.1 of POS devices at these locations, which are also compliant with global PCI DSS standards, as required by global institutions.
Banque Misr has also been focused on financial inclusion and has consistently operated in conformity with the strategy of the Central Bank of Egypt, in order to strengthen the efforts of financial inclusion; most important of which is the transformation from a cash society to a cashless society by endorsing and incentivizing the utilization of electronic payment methods. This is in line with the policies of the National Payments Council chaired by H.E. the President of Egypt, targeting the reduction of the use of banknotes outside the banking sector, while encouraging the use of electronic payment means and channels instead. In realizing this goal and in fulfillment of customers' needs, Banque Misr has offered various salary automation solutions targeting public and private sector companies by provisioning a variety of salary transfer products (salary cards – salary accounts). As such, the number of companies contracting with the bank has numbered 858 companies, at a total of 864 thousand cards and 62 thousand accounts. This in addition to providing an electronic payment service for tax and customs via 406 branches – of which 401 are located within the Arab Republic of Egypt and 5 branches in the United Arab Emirates. Banque Misr currently tops the ranking of banks availing customs payment services to companies, which allows customers to pay taxes, customs duties and other governmental fees electronically from the comfort and convenience of their offices. More than 26 billion EGP were collected through this system during the fiscal year 2018/2019 as well as via the "BM Wallet" service. Moreover, Banque Misr has concluded a number of partnerships to provide access to electronic payment methods, with corporations such as Visa Inc., Exxon Mobil, Fawry and Egypt Post.
Worth noting is that Banque Misr has ranked first for the fourteenth consecutive year – since the launch of the Ministry of Finance's salary automation scheme in 2005 – amongst banks participating in the system, with a market share of 48% and a total of 2.6 million cards affiliated with 1,129 government entities contracting with the Bank. The value of salaries - of both the public and private sector - transferred through the Bank has exceeded 87 billion EGP per annum.
Within the framework of financial inclusion, the Bank has been keen on availing financial services to various social segments by way of geographical expansion. As such, Banque Misr seeks to expand its network of branches nationwide to be conveniently accessible by customers wherever they may be. In light of this, a number of branches have been recently inaugurated, making the Bank the owner of the largest network of branches, numbering more than 700 throughout the country. This is in addition to its regional and global presence in the United Arab Emirates, Lebanon, France, Germany, China, Russia, South Korea (Seoul) and Italy (Milan). In the foreseeable future, the Bank targets establishing a presence in the Kingdom of Saudi Arabia, Kenya (Nairobi), Somalia and Djibouti; in addition to several other African states, while maintaining a large network of correspondents covering all countries of the world.
Moreover, the Bank possesses a developed network of technologically advanced Automated Teller Machines (ATM), numbering approximately 2,702 in total; providing withdrawal and deposit services, currency exchange, payment of bills and donations; in addition to cash transfer services. The Bank also provides other innovative services such as being the first bank in Egypt to offer withdrawal and deposit services for electronic mobile phone portfolios via its network of ATMs.
Worth noting is that Banque Misr has taken numerous strides towards digital transformation; such as, for instance, updating and developing its internet banking service "BM Online" and offering a bundle of new banking services to customers. Banque Misr has also launched electronic banking services to customers via mobile phones through the mobile banking application, becoming one of the first amongst its counterparts to offer this service through "BM Wallet". Banque Misr has also recently – and for the first time in Egypt – utilized artificial intelligence technologies to offer the "Automated Assistant Chat Bot" through its web portal, to serve customers around the clock.
The Bank has been the first to offer technology enabling points of sale and electronic website purchases via QR Code for mobile wallet customers. The Bank has also automated the financing of micro enterprises, so as to provide the service instantly, for the first time in Egypt.
Banque Misr finances Micro, Small and Medium Enterprises (MSMEs) via branches located throughout the different Egyptian governorates, in various fields; such as industrial, agricultural and service-based projects. As of June 2019, the portfolio of MSMEs increased from 10.9 billion EGP to 23.3 billion EGP, at an increase of 12.4 billion EGP and a growth rate of 114%. As of June 2019, the portfolio of MSMEs clients increased from 85 thousand clients to 121 thousand clients; recording a rise of 35 thousand clients and a growth rate of 41%.
Banque Misr consistently strives to fulfil the needs of various social segments, in a manner that is conducive to development; by eradicating unemployment and contributing to the development of the community. Accordingly, the Bank has partnered with the Ministry of Local Development to launch "Mashrooak" (Your Project) program, with the objective of financing small and micro enterprises, via the "one-window" initiative within the local units throughout Egypt. Loans were issued to 78 thousand clients at a total value of 6.4 billion EGP between 26/3/2015 and 30/6/2019.
With regards to financing major corporations, Banque Misr is considered a national pioneer in financing projects in various sectors. During the period from 1/7/2018 to 30/6/2019, the Bank was able to successfully complete the arrangement, financing and participation in 8 operations, totaling 20.45 billion EGP; in various sectors including real estate investment, contracting, petroleum and gas, construction materials and financial services. The Bank's guarantee coverage for said operations amounted to approximately 10 billion EGP.
In lieu of the extensive marketing plans adopted by the bank towards attracting new customers and financing operations – coupled with the commitment to implement its strategic and development objectives that are geared towards supporting the national economy in various fields and sectors – the Bank currently seeks to complete a total of 21 major financing operations, both targeted and under consideration, in various sectors including real estate investment, land transportation, petroleum and gas, agricultural yields, fertilizers, petrochemicals, cotton and textiles, financial services and others. Said operations amount to approximately 92.8 billion EGP, at a guarantee coverage of 26.4 billion EGP. This comes as an emphasis of both the Bank's pivotal role and its status as a national pioneer of the Egyptian banking sector.
It is also worth noting that Banque Misr has been a forerunner of Islamic banking, being the first public sector bank to establish branches for conducting Islamic banking transactions (Kenana), numbering some 44 branches throughout the Arab Republic of Egypt. The Islamic banking credit portfolio witnessed an increase to record 7.7 billion EGP in 6/2019 insofar as joint facilities, corporate credit, micro, small and medium enterprises, in addition to retail banking; most of which were concentrated in the sectors of building and construction, sewage networks, food and beverage, real estate development, financial brokerage and insurance.
In the area of Islamic retail banking, Kenana branches provide all modern-day banking services; including the issuance of all types of cards, in addition to a bundle of products developed to serve the customers of Islamic branches. Such products include the multiple products of Murabaha; such as the Murabaha of Hajj and Umrah, Murabaha of durable goods, Murabaha of tourism trips, car purchase Murabaha as well as education Murabaha to finance the payment of tuition expenses and fees. Moreover, Banque Misr's Islamic branches provide the service of "Takaful Banking Insurance" with the assistance of the Egyptian Takaful Life Insurance Company. The value of the Islamic banking portfolio totaled 934 million EGP as at 30/6/2019, in comparison to 577 million EGP in 6/2018, at an increase of 357 million EGP compared to the previous year and a growth rate of 62%.
Moreover, Banque Misr plays a leading role in corporate social responsibility due to this being one of the main tenets in which the Bank strongly believes. This role is played both directly and indirectly through the Bank's non-profit foundation "Banque Misr Foundation for Community Development", which holds registration number 7045/2007 and aims to develop and assist the Egyptian community by partaking in a number of activities and initiatives of a social nature, as well as to achieve the best for society in general. This is done in multiple fields including health, education, social solidarity and societal development – as exemplified by developing and improving the most deserving Egyptian villages via MSMEs and contributing to the provisioning of employment opportunities for youths and female breadwinners; in collaboration with Civil Society organizations. This is in addition to the development of slum areas and all that relates to the advancement of the "human" factor.
Furthermore, Banque Misr is considered one of the largest and most experienced banks in the area of social development; and the most environmentally aware and responsible, insofar as governance regulations, which complement its principles of long-term performance and sustainability. Banque Misr is the first state-owned bank to receive the approval of the General Reporting Initiative (GRI) and reports its business in accordance with the principles of sustainability; by taking into consideration such tenets as governance, human rights, anti-corruption, social participation and environmental safety standards. The bank also complies with UN Global Compact for Citizenship (Corporate Social Responsibility) standards; and has expended some 760 million EGP in community development during the fiscal year 2018/2019.
Based on its firm belief in the importance of supporting social responsibility – this being one of the main pillars of achieving sustainable development – Banque Misr participates both directly and indirectly, via its independent non-profit foundation "Banque Misr Foundation for Community Development", in contributing to the comprehensive development of various sectors within society; including education, qualifying youths, public and environmental health and supporting the most deserving villages; together with developing slum areas and endorsing projects of female breadwinners. In the field of health and enhancing hospital efficiency, Banque Misr has carried out a number of significant contributions such as funding Shefaa Al-Orman Hospital an amount of 300 million EGP, by contributing to the establishment of phase three of the hospital designated "Banque Misr Building". This is in addition to supporting numerous university and government hospitals such as Cairo University Hospitals, Abul Rish Japanese Specialized Children's Hospital and the Fitness and Rehabilitation Unit, Ain Shams University Hospitals, the Hospital of Cardiology and Cardiovascular Surgery, Assiut University Hospitals, South Egypt Cancer Institute, Zagazig University Hospitals – Neurosurgery Unit, South Valley University Hospitals, Emergency and Accidents Hospital, Theodor Bilharz Institute, Sporting Health Insurance Hospital for Students – Alexandria, Sharqia Fever Hospital, Al-Ahrar Hospital – Sharqia and Luxor International Hospital.
Banque Misr has also contributed to subsidizing the costs of surgical procedures undergone by cardiovascular, burns and ophthalmology patients; as well as availing treatments to patients with virus C, supporting Magdi Yacoub Heart Foundation and has organized a number of medical convoys to various villages. Moreover, Banque Misr has participated in President Abdel Fattah El-sisi's initiative to address avoidable blindness and promote quality eye health by channeling 80 million EGP to Tahya Misr Fund's Initiative, "Nour Haya". This is owing to the bank's steadfast belief in each citizen's right to receive appropriate health care. The bank has also supported Zewail City of Science and Technology and inaugurated the Banque Misr premises within the City as part of the protocol of cooperation concluded between the two parties.
Bank Misr Foundation has also provided outstanding education opportunities to some 65 students through annual scholarships at the Nile University's schools of Engineering and Business Management; while granting scholarships at developed technical education centers for 35 underprivileged students. This is in addition to contributing to the development of Upper Egypt's most deserving villages – 34 in total – at an average of 4 villages per year, with these being completed in October 2019, and work still in progress at 13 more villages across 8 governorates. The Bank has also been involved in improving the quality of life in slum areas (4 locations annually), with a focus on educational programs and human development for children and working mothers; coupled with health awareness, qualification training and supporting small projects for working mothers.
This is in addition to annual communal functions and events; including Orphans Day and Warmth of Winter (providing winter clothes and blankets), Eid clothing campaign (providing Eid clothes) and Back to School (availing school uniforms, school bags, and scholarships).
The Bank has reaped numerous awards in various business areas during the previous period, from several global organizations in appreciation and recognition of its accomplishments and efforts in various sectors:
In the field of financing small and medium enterprises and microfinance, Banque Misr attained several awards, including: "The Fastest Growing Bank in Small and Medium Enterprises Financing - Egypt 2018" from International Finance magazine, which is one of the most acclaimed and specialized financial magazines in the world; the "Best Bank in SME Financing for the Year 2018 in the Middle East and North Africa" from Wealth and Finance magazine; "The Best Bank in Financing Small and Medium Enterprises for 2018" from British magazine The European; "Best Bank in Small and Medium Enterprises Financing - Egypt 2018" by International Business magazine; "Best Supporting Bank for Youth Projects in the Arab World - Mohammed Bin Rashid Foundation for Supporting Youth Projects for 2018"; as well as 2019 Africa award for "Bank of the Year for Financing Small and Medium Enterprises" from Corporate Live Wire magazine.
In the field of cash fund management, the Bank's efforts paid off by winning several awards, among which was the "Best Bank in Managing Cash Funds and Short-Term Investments in Africa – 2019" from Global Finance magazine for the eleventh consecutive time. 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 the "Best Bank in Managing Cash Funds and Short-Term Investments in the Middle East" for 2015, 2016, 2017 and 2018. 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.
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, amongst which was ranking second in the African continent as a principal bank in syndicated loans and project financing, with a market share of 5.5% as per the evaluation of Bloomberg during the first half of 2018. Banque Misr came in third in syndicated loan promotion and project financing in the African continent, with a market share of 6.8%; and has been achieving advanced rankings in these classifications since 2015 by continuing to build on previous success.
Banque Misr won another six awards from EMEA Finance in 2018 for financing operations jointly executed in liaison with other leading banks in the banking sector. These awards were for projects covering various sectors; such as fertilizers, petrochemicals, building materials and communications. This was on an African level under the Project Finance Awards category and the Achievement Awards category. The attained awards highlight Banque Misr's leading role in supporting the Egyptian economy in various fields. The bank also secured the award for "Best Egyptian Bank in Arranging Syndicated Loans and Project Financing - 2018" and "Best Egyptian Bank for Financing Mega-Projects - 2019" from the International Federation of Arab Bankers.
In the area of Islamic banking, Banque Misr succeeded in attaining several awards, including the "Best Bank for Islamic Banking – Egypt 2019" from International Business magazine; the "Best Bank for Islamic Transactions – Egypt" for the years 2018 and 2019 from British Global Business Outlook magazine; the "Best Bank for Islamic Banking – Egypt" for the years 2018 and 2019 from International Finance magazine; and the "Best Bank for Islamic banking - Egypt 2019" from Global Banking and Finance Review magazine.
Banque Misr has recently achieved several international awards in the field of corporate social responsibility, among which was the award for "Best Bank in Social Responsibility – Egypt 2018"; and the award for "Best Bank in Environmental Sustainability – Egypt 2019" from Global Business Outlook magazine; and the award for "Best Bank in Social Responsibility – Egypt" from International Business magazine for 2018 and 2019. The Bank also attained the award for "Best Bank in Social Responsibility in Egypt for 2019" from International Finance magazine, British Global Brands magazine and Global Banking and Finance Review.
In the category of banking products for corporations and financial institutions, the Bank won the award for the "Fastest Growing Bank in Trade Financing in Egypt" for the years 2018 and 2019; and the "Fastest Growing Bank in Cash Management – Egypt 2018" from Global Banking and Finance Review magazine. The Bank attained first classification as the "Best Service Provider to Non-Financial Institutions - Egypt 2019" according to Euro Money's survey of cash management solutions; and ranked first as a "Pioneer of the Egyptian Market 2019" for non-financial institutions, according to the survey of corporate cash management solutions.
The bank also won "Operation of the Year in Africa 2019" from the Financial Times' The Banker International; the "Best Corporate Brand - Egypt 2019" from Global Brands magazine; the "Best Local Bank Award" at the regional level within the Belt and Road Initiative (Middle East and Africa) for the year 2019 for the second consecutive year; the "Best Egyptian Bank for Banking Transactions with Asia for 2019" from the Asia Money magazine "Euro Money" and the prize for the "Best Bank in Financial Inclusion" from British magazine The European. The bank received a certificate of international standards for securing the data of electronic payment cards (PCIDSS) in its latest version 3.2.1 from Control Caps company; and was also ranked amongst the 5 strongest banks in Africa by the Asian Banker foundation. Also worth noting is that Banque Misr recently received the Silver Play Button award from YouTube (Google), after the number of subscribers to its channel exceeded 100 thousand – a first in Egypt. On a similar note, Banque Misr tops the list of viewership for official banks on YouTube, according to a report by Socialbakers Analytics. The Bank's efforts came to fruition upon being named "Bank of the Year – Egypt 2019", as per the rankings of British magazine The European.
The Bank's acquisition of such an 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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