Banque Misr signs co­op­er­a­tion pro­to­col with Egyp­tian Man­u­fac­tur­ers As­so­ci­a­tion to pro­vide its fi­nan­cial, ex­port ser­vices to its mem­bers

SMEs clients up by 32% at bank in 1 year, loans to these projects up by 131%

The Daily News Egypt - - News -

The Head of Banque Misr’s Small and Medium En­ter­prises (SMEs), Sherif El Be­heriy, signed a co­op­er­a­tion pro­to­col with Walid He­lal, chair­per­son of the Egyp­tian Man­u­fac­tur­ers As­so­ci­a­tion,to sup­port the joint co­op­er­a­tion be­tween the two par­ties in or­der to pro­mote SMEs and pro­vide fi­nanc­ing ser­vices and ex­port ser­vices to the mem­bers of the as­so­ci­a­tion.

The pro­to­col aims to pro­vide fi­nanc­ing ser­vices to the as­so­ci­a­tion’s mem­bers in ac­cor­dance with the ini­tia­tives of the Cen­tral Bank of Egypt (CBE), and in line with the bank’s im­por­tant role in de­vel­op­ing the na­tional econ­omy, so­cial sta­bil­ity, and in­creas­ing na­tional out­put, in or­der to fa­cil­i­tate the ac­cess of these types of projects to fi­nance and pro­vide many non-tra­di­tional ser­vices and tools.

The sign­ing of the pro­to­col comes within the frame­work of the CBE’s ini­tia­tive, un­der which the mem­bers of the as­so­ci­a­tion will be able to ob­tain the nec­es­sary fund­ing at a de­creas­ing in­ter­est of 5 and 7%. This is part of the bank’s keen­ness to meet the dif­fer­ent needs of all seg­ments of so­ci­ety, thus con­tribut­ing to the ad­vance­ment of de­vel­op­ment and com­ple­ment­ing the bank’s ac­tiv­i­ties in fi­nanc­ing mi­cro, medium and small en­ter­prises.

The num­ber of SME cus­tomers at Banque Misr has in­creased by 32% in June 2018 against June 2017, while the value of the loans di­rected to these projects in­creased by 131% in June 2018 com­pared to June 2017.

The pro­to­col was signed in the pres­ence of Mo­hamed El-Etreby, chair­per­son of Banque Misr, as well as Aked Maghraby and Hos­sam El-Din Ab­del Wa­hab, the chair­per­son deputies, in ad­di­tion to She­hab Zi­dan, head of the Cor­po­rate Bank­ing and Fi­nan­cial In­sti­tu­tions Sec­tor and sev­eral the bank’s of­fi­cials.

The pro­to­col was signed in the pres­ence of Mo­hamed El-Etreby, as well as Akef Maghraby and Hos­sam El-Din Ab­del Wa­hab, in ad­di­tion to She­hab Zi­dan, and sev­eral the bank’s of­fi­cials

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