The bank was established on May 27, 1975, before the Islamic revolution in Iran, as an Egyptian joint stock company. It is jointly owned by the governments of Egypt and the Islamic Republic of Iran.
The bank has diversified investment portfolio as it pumps investments into money markets, project financing and short-term trade finance activities, according to its official website. The bank has authorized capital of $300 million, and it has 16 branches in the Egyptian market, over the past year it has achieved a net profit of EGP 239 million.
MID Bank has launched its new brand in the Egyptian market under the slogan “Empowering Your Future’’. It has an ambitious strategy that aims at comprehensive development and growth.
MID Bank’s new slogan comes as a means of expressing its new business plan that aspires to enhance the bank’s activity in the Egyptian banking sector.
The strategy also aims to expand the provision of products and services that depend on digital and technological means, in addition to retail banking services.
The bank’s launch of its new identity and ambitious strategy came after the implementation of a comprehensive restructuring plan. This included not only changing the identity and brand of the bank, but also developing the infrastructure and engineering and preparing an integrated strategy.
The bank employs more than 700 employees to provide the best banking products and services to all customers. The bank also has a network of 16 branches distributed among Cairo, Giza, Alexandria, Delta and Upper Egypt.
The bank provided a range of services, which are as follows:
1. Banking accounts, certificates and deposits of all kinds.
2. Meeza Midbank prepaid and debit cards.
3. Classic and Gold Visa Credit Cards.
4. Transfer of salaries and pensions.
5. Retail banking loans for all categories.
6. Automated teller machine (ATM)
7. Investment certificates.
8. Iron safes.
9. Investment funds and securities.
10. Custodian banking and clearing services.
11. Pay customs and taxes electronically.
12. Youth accounts.
13. SWIFT and electronic clearing system transfer.
14. Providing facilities and loans to small and medium enterprises within the framework of the Central Bank initiative.
