Banque Misr State Bank Misr

Misr State Bank is the second largest bank in Egypt. Misr Bank was founded in 1920 by advanced economist and financial expert Mohamed Talaat Harb Pasha, who became one of the pioneers of the introduction of the concept of investing in national savings and redistribution in favor of economic and social development. Thus, Bank Misr became the first bank wholly owned by the Egyptians.

Misr Bank became the founder of large investment funds included in the diversified Egypt portfolio of the bank.

The role of Misr Bank is visible in all economic areas, due to its geographical coverage. The bank has about 14,500 employees serving in Egypt, according to 2017, more than 8 million customers, while the total paid capital of the bank is 15 billion Egyptian pounds.

Offices

The bank has about 590 local branches integrated into a single digital network, as well as five branches in the United Arab Emirates and one in France. In addition, the bank has a good regional and global presence: its subsidiaries are located in Lebanon and Germany, representative offices in China and Russia, and the bank also has a global network of correspondent banks.

Safety

Misr Bank became the first bank in Egypt and North Africa to comply with international PCI DSS data security standards, having passed global certification for compliance with this standard. Using the latest technologies in the banking sector, Misr Bank is constantly striving to increase customers' access to banking products and services. The pride of Misr Bank is the presence of one of the largest ATM networks today, covering all parts of Egypt.

Awards

Misr is the winner of the Global Finance Treasury and Cash Management Awards as "Best Money Market Investor in Africa and the Middle East" in 2009 and 2010 and "Best Money Market Investor in the Middle East" in 2008, 2012, 2013 and 2014. The bank was also awarded as "The best investor in money market funds and short-term investments in the Middle East" in 2015, 2016 and 2017.

Misr Bank was recognized as the best Authorized Lead Organizer in the Egyptian banking market and ranked second among the best leading registrars and Authorized Lead Organizers in Africa in the Bloomberg ranking for the syndicated loan market for the third quarter of 2017. Moreover, Misr Bank retained first place among Egyptian banks, and took fifth place among leading registrars, sixth place among Authorized leading organizers in the Middle East and North Africa region in the third quarter of 2017.

History

2021: Alexander Yashnik - the new head of the Russian mission Misr

March 16, 2021 it became known about the appointment of Alexander Yashnik as the new head of the Russian representative office of the Egyptian bank Misr. The labor contract is valid from March 2 after receiving the approval of the Central Bank of the Russian Federation. More details here.

2017: Opening of an office in Russia

State Misr Bank, the second largest bank, Egypt announced on October 23, 2017 the opening of an official representative office in. To Moscow

I would like to express my sincere gratitude to our partners from Russia, to whom we have the deepest respect and appreciation. Their interest and support greatly simplified the opening of the Misr Bank representative office in Moscow, which not only indicates deep historical ties between Egypt and Russia, but also opens up prospects for long-term cooperation in the future, "commented Mohammed Al-Attribute, Chairman of the Board of Directors of Misr Bank.

The opening ceremony in Moscow was attended by the vice-chairman of the Board of directors Akef al-Magribi, Effat Iskhak, the chief general manager, the director of the department of treasury and the correspondent relations, Ekhab Makkavi, the general manager, the director of support and development of foreign branches and representations, doctor Fatma El-Guli, the head of PR department and advertizing and also a number of the state and bank figures from the Russian side.

Select Country for Next Office

According to representatives of the bank, the decision to open a Misr representative office in Russia was another step in the implementation of the strategy to expand the bank's presence abroad. The choice of the Russian capital is not accidental - Moscow is a major financial center, a place of attraction for many Russian and foreign companies. Another factor in the bank's entry into the Russian market was the deep history of relations between Russia and Egypt, diplomatic relations between which were established in 1784, when the first Russian consul in Alexandria laid the foundation for building many years of diplomatic, economic and cultural cooperation between the countries.

Purpose of opening a representative office

According to the Misr statement, the representative office in Russia is open with the aim of creating, coordinating and simplifying interaction between various divisions of the bank in Egypt and abroad, which are interested in opportunities for business cooperation in Russia. In addition to working with Russian counterparties, the representative office will be responsible for strengthening relations between Misr Bank and Russian correspondent banks, increasing their number and developing business.

As of October 2017, Misr is the only representative of the Egyptian banking system in the Russian financial sector. In the future, the bank hopes to expand its presence in the Russian Federation and the CIS countries, using the Moscow office as a business hub.

Work in Russia

As noted, Misr Bank already carries out transactions and provides banking services to the largest banks in the Russian Federation, including interbank operations, in particular, financing of bilateral trade between the two countries (in the form of loans, documentary collections, bank guarantees of letters of credit).

The bank offers a full range of banking services, the main share of which falls on the provision of loans to clients whose activities are associated with Russia, and hopes that the representative office in Moscow will become an intermediary and conductor for their further development in the Russian market.