Business Banque Misr contributes to financing Nasr City for Housing...

Banque Misr contributes to financing Nasr City for Housing and Development by 2.1 billion pounds

Banque Misr participated in the Egypt Alliance, granting a sum of 2.1 billion Egyptian pounds for funding for Nasr City for Housing and Development. It is worth noting that the banking alliance includes Banque Misr as the escrow agent, the National Bank of Egypt as the financing agent, and the Arab African International Bank as the general coordinator of financing, where the coalition banks in their Original main salary earners by signing a long-term joint loan contract with the company in the amount of 2.1 billion Egyptian pounds, for the purpose of financing part of the investment cost for the Saray 1 and Saray 2 projects in New Cairo. The loan also aims to refinance the balance of the loan loan granted to the company from the Arab African Bank For international countries, it is worth noting that the loan term is up to eight years, which includes two and a half years, which represents the period available for withdrawal and permission to finance. This has been distributed equally between the Bank of Egypt, the National Bank of Egypt and the Arab African International Bank, so that the share of each bank is about 700 one million pound.

This is the financing granted to Nasr City for Housing and Development, which is a pioneer in the field of real estate development, as it has a land portfolio exceeding nine million square meters distributed among several projects, including; The Taj City project, the Saray project, in addition to the Nasr Gardens project, and the Oasis project, complementing the successes of Banque Misr during the previous period in the field of corporate credit and joint loans; Emphasizing the outstanding performance of the bank and its strong financial results, and in continuation of the intensive marketing plans pursued by Banque Misr to attract new financing clients and operations, as well as the bank’s commitment to implementing its strategic and development goals in order to support the national economy in various fields and sectors; For example, the sectors of petroleum, chemicals and petrochemicals, telecommunications, renewable energy, iron, and real estate activities, which are considered vital economic sectors, that provide many job opportunities, whether direct or indirect through many industries and other related activities.

Banque Misr is one of the largest national banks leading in financing all projects in various sectors. Banque Misr was able during the period from 1/07/2018 to 30/06/2019 to finish arranging, financing and participating in (8) financing operations with a total financing size of 20.45 One billion pounds, with a share of 10.1 billion pounds, in many sectors such as (real estate investment, building materials, oil and gas, financial services, general and specialized contracting and real estate financing). There are also targeted and under study operations that are being completed for nearly (20) operations Funding with a total financing amount of 49.2 billion pounds, and the value of the coverage guarantee Expected Bank of Egypt in these operations is almost LE 16.7 billion in several sectors (such as real estate investment, textile, road transport, transportation, oil and gas, agricultural and agricultural crops, fertilizers, petrochemicals, financial services, education).
It is worth noting that Banque Misr has recently won numerous awards in the field of corporate credit and syndicated loans, as the bank ranked first in the Egyptian banking market in arranging and marketing joint loans. This is according to the announcement by Bloomberg International, according to the list of joint loans for the year 2019, where Banque Misr won the fifth position as the best financing marketer, in addition to the sixth position as the main rank for joint loans at the level of the African continent, among other international banks in the list, and the bank also ranked fifteenth As the best financing marketer for the Middle East and North Africa region, in addition to receiving the award for the best Egyptian bank in major projects financing for the year 2019 from the International Union of Arab Bankers.

The Bank of Egypt obtaining these awards is a certificate of entitlement to the trust of its customers, which is always the focus of its attention as they are success partners in all businesses, and as a confirmation of its pioneering role and its continuous ability to achieve strong levels of performance through its ingredients for continued growth, and the bank always seeks to provide everything It is a new service and product that meets the needs of customers.

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