Cairo – Mubasher: Egyptian state-owned Banque Misr intends to broaden its presence in the Middle East and Africa over the coming period, according to an official statement.
The expansion plan will be implemented by establishing different subsidiaries, which will help the bank strengthen its footprint abroad.
Meanwhile, Banque Misr is currently taking the necessary procedures to establish a subsidiary in Djibouti in addition to a branch in Somalia’s Mogadishu.
As part of its expansion strategy in the Middle East, the Egyptian lender is also in the process of establishing and operating a Banque Misr branch in Riyadh, the capital of Saudi Arabia.
It is worth mentioning that in late 2024, Egypt’s state-run bank entered into a $1 billion senior unsecured syndicated term loan facility agreement.
