Banking Maverick Mohamed El Etreby Propels Banque Misr to Unprecedented Heights of Success

Mohamed El Etreby, Chairman of the Board of Directors of Banque Misr, has achieved significant and historic advancements in the bank's performance since taking over its leadership. With over 45 years of extensive banking experience in the financial and banking sectors, he has held numerous leadership positions in various local, regional, and international banks.

Under El Etreby's leadership, Banque Misr has experienced a notable leap in its business volume and financial performance indicators. This was revealed by a recent assessment conducted by First Bank to measure the bank's development since he assumed the executive leadership in 2015.

He strengthened the bank's financial position, increasing its asset portfolio from EGP331.17 bn at the end of June 2015 to surpass EGP1.97 tn at the end of September 2022, achieving a growth rate of 495.19% and an increase of EGP1.64 tn.

This performance has contributed to the bank's increased market share, reaching 18.21% of the total assets of the banking sector by the end of the third quarter of 2022, compared to 15.06% at the end of the fiscal year ending in June 2015.

El Etreby also succeeded in expanding Banque Misr's credit offerings to clients significantly, resulting in a total increase of 874.23%, with the bank's loans to customers reaching EGP671.82 bn at the end of September 2022, compared to EGP68.96 bn at the end of the fiscal year 2014/2015, representing an increase of EGP602.86 bn

Furthermore, he focused on supporting various economic activities to contribute to development. This is evident in the bank's increased loans to corporates, which reached EGP580.52 bn at the end of the third quarter of the previous year, compared to EGP58.57 bn at the end of June 2015.

El Etreby also emphasized the importance of retail banking, diversifying risks, and providing significant support to individuals, leading to a substantial increase in the bank's individual loans portfolio to EGP91.29 bn at the end of September 2022, compared to EGP 10.39 bn at the end of the fiscal year 2014/2015, achieving a growth rate of 778.87% and an increase of EGP80.91 bn.

He also expanded Banque Misr's investments in subsidiary and affiliate companies by approximately 1004.05%, reaching EGP 42.85 bn at the end of the third quarter of 2022, compared to EGP3.88 bn at the end of June 2015, representing an increase of EGP38.97 bn.

El Etreby's efforts led to significant increases in the bank's reserves, which reached EGP97.99 bn at the end of September 2022, compared to EGP 4.08 bn at the end of June 2015, reflecting an increase of EGP 93.91 bn.

He also focused on geographic expansion, evident in the substantial increase in the number of bank branches, rising from 500 branches and banking units in Egypt at the end of the fiscal year 2014/2015 to 798 branches and banking units by the end of the third quarter of 2022.

Additionally, he enhanced the bank's international presence, establishing representative offices in Russia, China, South Korea, Italy, Ivory Coast, and Kenya, in addition to its five branches in the UAE and a branch in Paris.

El Etreby's exceptional leadership, along with his team, resulted in numerous awards, including Best Bank for Small and Medium Projects from Cosmopolitan The Daily, International Invest Magazine, and World Economics Magazine. The bank was also recognized for its excellence in mobile banking services and application by Cosmopolitan The Daily and Global Business Magazine for the year 2022.