Banque Misr completed the arrangement, financing, and participation in nearly 10 financing operations, worth a total of about EGP 86.3bn, in the first nine months (9M) of 2020.
The bank’s share in these operations amounted to about EGP 33.7bn. In a statement on Wednesday, the bank said that its activities during the period come as the culmination of its role.
It added that it has obtained many international awards that confirm its excellent performance and strong financial results. These activities are also a continuation of its intensive marketing plans to attract new customers and financing operations.
Banque Misr led a banking consortium to arrange and grant long-term co-financing amounting to EGP 2.54bn, for the Zed Sheikh Zayed project. The co-financing went towards part of the investment costs needed to implement the first and second phase of the 165 feddan development.
It also played the role of primary principal arranger, coverage guarantor, marketer, and financing agent. The banking alliance included Emirates NBD, the Export Development Bank of Egypt (EBE), and the Housing and Development Bank (HDB), as the main arrangers and guarantors of coverage.
Banque Misr ranked first in the Egyptian banking market in terms of arranging and marketing syndicated loans for the year 2019, according to the Bloomberg International Foundation.
The recognition of its leading position comes after Banque Misr completed 13 joint financing deals, worth a total value of about EGP 22.725bn, in which it played the main arranger role. It has also completed 12 financing deals worth a total value of about EGP 26.275bn. In this, Banque Misr played the foremost role of financing marketer out of the total financing operations made by the 20 largest banks in Africa.
According to the list of syndicated loans for 2019, the Bloomberg Foundation announced that Banque Misr ranked as the fifth best financial marketer.
The bank also came in sixth place as the main arranger for syndicated loans on the African continent, among other international banks on the list. It ranked as the 15th best marketer for funding in the Middle East and North Africa (MENA) region.
