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EGP 2bn increase in Banque Misr retail banking portfolio in FY 2014/2015 Bank spends more than EGP 19.24bn annually on salaries, transferred by public and private sector companies
The value of the retail banking portfolio at Banque Misr recorded EGP 7.8bn in June 2015 compared to EGP 5.8bn in the corresponding month in 2014, with an EGP 2bn increase and a growth rate of 33%, according to a statement from the bank. The bank said about 3.8m electronic payment cards were issued, most of which operate with the Smart Chip system, putting the bank in second place among Egyptian banks in terms of issuance such cards. According to the bank, it came in first place in the collection of traders operations, with 12,150 trading spots – where any of their credit cards are used – contracting with the bank in all governorates of Egypt. The bank also said it came in first place in terms of the size of transactions of traders contracting with the bank, which amounts to about EGP 5.37bn annually. Banque Misr remained in first place among banks participating in the Ministry of Finance system for automating payrolls for eleven consecutive years, with a market share of 45%. Banque Misr has provided different solutions for automating payroll for companies. About 489 companies contract with the bank, with 228,000 cards and 44,000 accounts. The value of salaries transferred to the bank from public and private sector companies amounts to more than EGP 19.24bn annually. In continuation of the bank's policy of spreading its branches nationwide, it has recently opened a number of branches, totaling more than 500 branches throughout the country. Banque Misr is considered the most prevalent bank in the Middle East and Africa, in addition to its global and regional presence in the UAE, Lebanon, Paris, and Frankfurt. It also has a large network of correspondents covering all countries worldwide. Banque Misr also has a sophisticated network of ATMs with about 1,400 machines that offer deposit, withdrawal, currency exchange, bill payments, and donations services. These ATMs provide cash transfer services with or without the use of cards, since they are equipped with the latest technologies. The bank recently started offering the money transfer service and receiving service – money transfers with cards (Engaz Service) – through ATMs, which allows the transferring and receiving money for its clients at any time easily and quickly through the nearest ATM.
