Over the review period, Banque Misr expanded its already strong footprint in the Egyptian real estate market, thanks to its focus on digitalization and inclusivity.

Banque Misr has seen a strong performance in its Shariah-compliant loan book and has been instrumental in several key Islamic finance transactions.

Across the Middle East and North Africa, Egypt and its banks boast august credentials when it comes to climate and sustainability. But frameworks and agreements are one thing, creating substantive change across an entire financial sector is quite another.

Egypt’s supportive regulation, together with the impact of Covid, saw cashless payments in the country grow by more than 230% last year. Now fintechs, banks and state-owned platforms all want a piece of the action.

As Gulf banks grapple with squeezed margins, low interest rates and over-banking, Egypt offers the opposite: high interest rates, low lending penetration and a largely unbanked population. It is no surprise that domestic and regional buyers are now circling.

The Egyptian bank is to launch a digital bank as Covid-19 accelerates the government’s push for a cashless society.