MISR BANK - EUROPE GMBH,
“Egypt’s bank in Europe”,
has been operating in Frankfurt since 1992.
The business always used to centre on dealing with European-Egyptian trade. Over the years, the focus was steadily widened and now covers European trade with the entire MENA region. MISR BANK - EUROPE GMBH is the only Egyptian bank in Germany.
MISR BANK - EUROPE GMBH has a full banking licence and is regulated by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin = Federal Financial Supervisory Authority). Our institution is a member of the Bundesverband deutscher Bank e.V., Berlin (BdB = Association of German Banks). By virtue of the protection afforded by the BdB, customer deposits with the bank are thus covered over and above the minimum legal threshold.
Other key memberships include Verband der Auslandsbanken in Deutschland e.V. (Association of Foreign Banks in Germany), Frankfurt, Arbeitgeberverband des privaten Bankgewerbes e.V. (Association of Employers for the Private Banking Industry), Berlin, NUMOV Nah-und Mittelost-Verein e.V. (the Near and Middle East Association), Berlin, the Union of Arab Banks, Beirut, the Deutsch-Arabische Industrie- und Handelskammer (the German-Arab Chamber of Industry and Commerce, Cairo), and Ghorfa Arab-German Chamber of Commerce and Industry e.V., Berlin.
Main activity is the handling
of Middle European - Egyptian trade.
The shareholders of MISR BANK - EUROPE GMBH are four of Egypt’s largest banks:
|Banque Misr||74,75 %|
|National Bank of Egypt||10,25 %|
|Banque du Caire||10,00 %|
|National Investment Bank||5 %|
Banque Misr was founded in 1920 by Mohamed Tallat Harb Pasha, a pioneer of the Egyptian economy, who was the first to develop the concept of investing national savings deposits in economic and social projects to develop the country. From this emerged Banque Misr as the first bank to be wholly owned by Egyptians.
Banque Misr’s exceptional role becomes apparent in view of its geographic spread in all economic and business areas. With its 14,500 well trained and motivated employees, the bank caters for and supports more than 8 million clients in Egypt alone. The bank’s paid-up capital amounts to EGP 15 billion (EUR 703.1 million). Equity capital is currently EGP 23.3 billion (EUR 1.09 billion), which equates to a Basel II Tier 1 ratio of 12.59%.
In the year to June 30, 2016 total assets grew by 30% and amounted to EGP 430 billion (ca. EUR 20.15 billion).
In the year to June 30, 2016 after-tax profit increased by 31.7% and amounted to EGP 5.5 billion (ca. EUR 257.79 million).
The bank currently has a network of more than 600 electronically-linked branches in Egypt as well as 5 branches in the United Arab Emirates and one in France plus subsidiaries in Lebanon and Germany. In addition, Banque Misr has a network of over 300 correspondent banks in 43 countries, which facilitates a safe, convenient and quick execution of its clients’ cross-border transactions.
A helping hand
in processing European-Egyptian trading
Establishment of the National Bank of Egypt, Cairo, as a commercial bank for the economy and at the same time as central bank empowered to issue bank notes.
Establishment of Banque Misr, Cairo, as the first bank with exclusively Egyptian shareholders, by Mohamed Talaat Harb (1867 - 1941).
Establishment of Banque du Caire, Cairo.
Establishment of Bank of Alexandria, Cairo.
In the late 1950s and early 1960s nationalisation of all banks by the government of Gamal Abdel-Nasser (1918 - 1970). The newly-founded Central Bank of Egypt assumes responsibility for central bank functions that until then had been carried out by the National Bank of Egypt.
MIBank - Misr International Bank, El Mohandessine – Giza, is founded after the government of Anwar al-Sadat (1918 - 1981) admits private banks and foreign ownership. Shareholders are Banque Misr and US, Italian, English, German, Spanish and Japanese banks. Because of the continued privatisation drive by the government of Mohamed Hosni Mubarak (born 1928), Banque Misr reduces its shareholding in MIBank 1996 / 1997 in two stages to 25.955% by issuing global depository receipts and direct placement of shares on the stock exchange.
Misr Bank - Europe, Frankfurt, commences business operations. Shareholders are Banque Misr with 70 % and MIBank with 30%.
As part of a capital increase of DM 25 million / € 13 million to € 30 million, the National Bank of Egypt, Banque du Caire and Bank of Alexandria, each with a 10% holding become additional shareholders of Misr Bank – Europe.
2005 - 2007: As part of the restructuring of the Egyptian banking system and the privatisation of previously state-owned banks, National Société Générale Bank (Egyptian subsidiary of the French Société Générale) takes over Misr International Bank’s shares and the two banks merge. Acquisition of Banque du Caire shareholding by Banque Misr. The Italian Intesa Sanpaolo takes over Bank of Alexandria’s equity.
Bank of Alexandria sells its stake in Misr Bank - Europe to the National Investment Bank.
Banque Misr takes over National Société Générale Bank‘s shareholding in Misr Bank-Europe.
Misr Bank – Europe’s shareholders reiterate their commitment to the bank’s location and its business strategy by deciding to increase the share capital by € 30 million to a total of € 60 million.
Misr Bank – Europe, Frankfurt, celebrates its 25th anniversary and moves into new, modern premises in the heart of Frankfurt‘s financial district.
Execution of capital increase in two tranches of € 15 million each.