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Banque Misr considers arranging syndicated loans worth EGP 54.7bn to a number of major economic sectors - Daily News Egypt

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Banque Misr considers arranging syndicated loans worth EGP 54.7bn to a number of major economic sectors

Bank secures first place in the Egyptian banking market for marketing and management of syndicated loans and project financing


Banque Misr is considering arranging a number of syndicated loans worth EGP 54.7bn to several major economic sectors, especially the real estate investment sector, transport, electricity, and ports. The bank’s share in covering these loans is expected to reach EGP 13.6bn.

According to a Banque Misr press release, the loans emphasise the bank’s role as a leading national bank and represent another aspect of the bank’s marketing plans to attract new clients and provide more financing opportunities. The bank added that the loans prove its commitment to supporting the national economy in various fields.

The bank pointed out that between 1 January 2016 and 31 December 2016, it arranged and financed many financing transactions valued at EGP 55.1bn to a number of economic sectors such as electricity, communications and information technology, real estate investment, and oil and gas. Banque Misr covered EGP 17.1bn in these transactions.

The evaluation prepared by Bloomberg for banks in 2016 revealed that Banque Misr topped Egypt’s lists in arranging, marketing, and promoting syndicated loans and project financing.

According to this assessment, the bank has managed to secure fifth place on the list of best banks in marketing syndicated loans and project financing in Africa, with a market share of 6%.

Bloomberg’s report highlighted Banque Misr was the only Egyptian bank on the list of best banks in arranging, managing, and promoting syndicated loans across North Africa and the Middle East in 2016.

In a different context, Banque Misr agreed with Tahya Misr Fund to provide 500 patients with a cure for Hepatitis C, in the framework of the presidential initiative. The bank is set to choose the 500 patients from Ain Shams University.

Topics: Banque Misr Loans

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https://www.dailynewsegypt.com/2017/02/05/banque-misr-considers-arranging-syndicated-loans-worth-egp-54-7bn-number-major-economic-sectors/
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