Banque Misr reported a net profit of EGP 25bn for 2022, after paying EGP 15.9bn in taxes. The bank's profit before tax was EGP 40.8bn, up from EGP 28.6bn in 2021. The bank's total assets grew by 37.5% to reach EGP 2.2trn, driven by a 41.7% increase in customer deposits to EGP 1.7trn. The bank also expanded its lending activities, with a 16.2% rise in net direct loans to EGP 686.3bn in 2022, compared to EGP 590.6bn in 2021. The bank focused on supporting small, medium, and micro enterprises (SMMEs), with a portfolio of EGP 58.9bn and more than 160,000 clients. The bank also increased its corporate credit portfolio and syndicated loans by 21%, and its Islamic banking portfolio by 43%. Banque Misd arranged, financed, and participated in 19 financing operations in the traditional and Islamic system, at a value of EGP 93.2bn in 2022, while the value of the coverage guarantee for Banque Misr in those operations amounted to about EGP 57.1bn. The bank seeks to complete 33 financing operations targeted and under study sectors, at EGP 106.6bn. The value of the expected coverage guarantee for the bank in those operations is approximately EGP 38.8bn in addition to 3 operations in the Islamic system with a value of EGP 17.9bn. The value of the expected coverage guarantee is approximately EGP 4.9bn. The size of the credit portfolio granted to finance "Express" using traditional systems amounted to about EGP 24.7bn in December 2022, granted to about 25,000 customers, while the Murabaha Express portfolio amounted to EGP 2.7bn to about 2,600 customers. Last year, Banque Misr witnessed an expansion on the part of issuing wallets, reaching about 1.962 million wallets in December 2022. The bank pointed out that the number of companies contracting with the bank to pay the salaries of its employees through it amounted to 3,297 companies, with 1.35 million cards, and more than 308,000 accounts, in addition to providing electronic payment service for taxes and customs, and the bank's market share among the banks participating in the Ministry's system The financial system for the mechanization of salaries is 48%, and the number of cards amounted to 2.754 million cards, belonging to the 1438 government agencies contracting with the bank, and the value of salaries for the public and private sectors amounted to more than EGP 150bn annually, which are transferred through the bank. The number of cards issued by the bank exceeded 14.8 million cards, and the number of merchant sites contracting with the bank reached 59,562. The volume of transactions of merchants contracting with the bank amounted to about EGP 82.6bn annually. The bank has 827 branches and banking units until the end of July 2023, of which 56 are Islamic branches, in addition to its regional and global presence in the UAE and France, and subsidiary banks in Lebanon and Germany, as well as representative offices in China, Russia, South Korea, Italy, and Côte d'Ivoire, in addition to an office Representation in Kenya, and the bank also owns an advanced network of automated teller machines (ATMs) that reach more than 5,155 ATMs in December 2022. Banque Misr aims to expand in the African continent and the Middle East region during the coming period, through the implementation of projects to be present in foreign branches in the Kingdom of Saudi Arabia and Somalia, and the establishment of a subsidiary bank in Djibouti, in addition to converting the representative office of Kenya into a branch within 3 years of operating the office, in addition to a wide network of correspondents covering all countries of the world. In the field of social responsibility, Banque Misr spent about EGP 1bn in donations in the field of community development during the period from January to December 2022.
