El-Etreby’s long-standing experience makes all the difference with Banque Misr

1/30/2023 2:00:00 PM

Mohamed El-Etreby,Chairman of Banque Misr and the current President of the Federation of Egyptian Banks and the Union of Arab Banks, is a prominent banker with more than 45 years of experience under his belt within the financial and banking sectors and many local, regional and international banks. He left an imprint where ever he has gone that highlights the extent of his tireless efforts and his sterling career

By analyzing the investment strategy of El-Etreby since assuming his position as Chairman of Banque Misr early 2015, to be the thirteenth president of Banque Misr; it has been found that he directed the bank to financial investments, giving the greatest focus to utilising its resources into loans which is clearly evident in the high ratio of the loans to total asset. The loans to total assets ratio has jumped from 22.81% at the end of June 2014, to 34.08% at the end of last September.

On the other hand, the share of financial investments to total assets decreased from 56.27% at the end of the fiscal year 2014, to 27.20% at the end of the third quarter of 2022.

However, Banque Misr tended to increase the allocation of its deposits into loans, which increased from 26.05% at the end of June 2014 to 42.78% at the end of the third quarter of 2022.

As for financial investment to total deposits; it has declined from 64.27% at the end of the fiscal year ending in June 2014, to 34.14% at the end of the third quarter of 2022.

Furthermore, as a result of the adjustments made by El-Eteby; the bank was able to achieve strong profit rates, as it jumped by more than EGP 9 billion to record EGP 11.981 billion during the fiscal year ending in June 2021, compared to EGP 2.515 billion during the fiscal year ended in June 2014, with a growth rate of 376.39%.

However, bank’s net profits during the first 9 months of 2022 have increased by 3.69%, to record EGP 17.701 billion, compared to EGP 17.071 billion during the first 9 months of 2021; an increase of EGP 629.871 million.

Furthermore, Banque Misr achieved a sturdy leap in its financial portfolios, as the asset portfolio increased by 618.43%, to record EGP 1.971 trillion at the end of September 2022, compared to EGP274.363 billion at the end of June 2014; an increase of EGP 1.696 trillion.

The deposit portfolio achieved a record increase, raising by 553.74%, to reach EGP 1.570 trillion at the end of last September, compared to EGP 240.203 billion at the end of June 2014, an increase of EGP 1.330 trillion

As for total loans portfolio, it increased by 973.68%, to record EGP 671.817 billion at the end of the third quarter of 2022, compared to EGP 62.571 billion pounds at the end of fiscal year 2014, an increase of EGP 609.246 billion.

Total financial investments at the bank jumped from EGP 154.387 billion at the end of June 2014 to EGP 536.096 billion at the end of September 2022, achieving a growth rate of 247.24%, and an increase of EGP 381.709 billion..

The efforts of El Etrebty and his distinguished team resulted in obtaining a large number of award and international acclaim including the best SMEs bank and best mobile banking application from the International Investor magazine, World Economic Magazine and from Global Business Magazine for the year 2022, and the Best Bank in Mobile Banking Services from Cosmopolitan the Daily Magazine.