Mohamed El-Etreby, Historical achievements in the era of the 13th Chairman of Banque Misr

Banque Misr indicators have witnessed remarkable growth since Mohammed El-Etreby assumed executive leadership in 2015, enabling him to achieve a series of successive successes, most notably through rapid and historical transfers in the Bank's main portfolios, which lead to significantly increasing the Bank's market share, in addition to significant geographical expansion, and achieving the pioneering of digital transformation.

In a new monitoring conducted by First Bank to measure the development of the Bank's most important indicators since El-Etreby took over until the Bank's most recent available financial statements, it revealed that the asset portfolio jumped by 655%, reaching EGP 2.5 tn by the end of September 2023, compared to EGP 331.2 bn by the end of June 2015, with an increase of EGP 2.2 tn. 

The Bank's customer deposit portfolio rose by EGP 1.6 tn, registering EGP 1.9 tn by the end of Q3 of 2023, compared to EGP 290.1 bn by the end of June 2015, with a growth of 537.8% during the period under analysis.

El-Etreby increased customer loans significantly, bringing the bank's total customers loans by about 1223.5%, moving from EGP 68.96 bn by the end of the 2014/2015 fiscal year to EGP 912.7 bn by the end of Q3 of 2023, with an increase of EGP 843.7 bn.

The substantial increases in Banque Misr's customer loans are due to its great interest in supporting various economic activities because of its belief in its role in achieving development; The Bank has expanded its support to corporates, reflected by the Bank's increase in corporate loans by 1267.4%, to reach EGP 800.9 bn by the end of September 2023, compared to EGP 58.6 bn by the end of June 2015, with an estimated increase of EGP 742.4 bn.

The 13th chairman of the Bank also worked to increase the retail banking customer base, which resulted in the Bank's retail loans rising to EGP 111.7 bn by the end of Q3 of 2023, from EGP 10.4 bn by the end of June 2015, with a growth of 975 .8% and an increase of EGP 101.4 bn.

He also sought to boost Banque Misr's investments in subsidiaries and associates, rising to EGP 49.7 bn by the end of September 2023, compared to EGP 3.9 bn by the end of June 2015, with an increase of EGP 45.8 bn.

Mohamed El-Etreby did not ignore the importance of geographical expansion, as evidenced by the huge increases in the number of bank branches, from 500 branches and a banking unit in Egypt by the end of fiscal year 2014/2015 to 825 branches and a banking unit throughout Egypt by the end of November 2023, in addition to its regional and global expansion; Through 6 branches in the UAE, France, subsidiary banks in Lebanon and Germany, representative offices in China (Quanzhou), Russia (Moscow), South Korea (Seoul), Italy (Milan) and Kenya (Nairobi).

It is not planned to stop there, as during the coming period he aims to expand throughout the continent of Africa and the Middle East by establishing units of the bank in different forms to enhance the spread of Banque Misr abroad.

Banque Misr in Africa is currently taking the necessary steps to establish a bank in Djibouti (Djibouti Capital) and a branch in Somalia (Mogadishu), as well as to transform the bank's representative office in Kenya into a branch within three years of its opening.

It is worth mentioning that he works to establish and operate a branch in the Kingdom of Saudi Arabia (Riyadh) as well as the Abu Dhabi International Market in the UAE, along with a wide network of reporters covering all countries of the world.

The bank also has a significant network of ATM machines reaching over 5,415 machines by the end of November 2023.

He also attached great importance to digital transformation. His main efforts in this file were the inauguration of the digital transformation sector, which is the first integrated banking digital transformation sector of the Bank. The sector allows the creation of a flexible model coinciding with the age of digital transformation that enables digital transformation in all banking operations.

The Bank also provided various solutions to salaries machine for public and private business companies by offering a variety of salary transfer products (salary cards - salary accounts). The number of private sector companies contracting with the Bank 4210 companies with 1.48 million cards as well as over 357 thousand accounts, according to the Bank's latest figures. 

Mohamed El-Etreby has expanded the issuance of the e-wallet since its launch, reaching about 2.27 million portfolios by the end of November 2023 other than the e-portfolios managed by the Bank, which indicates an increased reliance of customers on this product to carry out transfers and pay various bills.

During his leadership and for the first time in Egypt, the Bank has used artificial intelligence technology to provide "machine assistant" service through the Bank's website to serve customers 24 hours a day.

It was also the first bank to provide purchasing technology from POS and websites with a rapid response code for mobile wallets customers, as well as for the first time in Egypt, the bank has introduced granting micro projects loans machine from Misr Bank to provide the service immediately.

The efforts of El-Etreby have pushed Banque Misr towards strong increases in its market shares, jumping its share in the loan market to 18.18% of total banking sector loans by the end of September 2023, compared to 9.66% by the end of the fiscal year 2014/2015. 

The increase in its share in the loan market is due to its success in raising its share in the retail loans market to 12.82% of total retail loans in the banking sector by the end of Q3 of 2023, compared to 6.14% by the end of June 2015.

The Bank's market share in the deposit market rose to 18.91% of total banking sector deposits by the end of September 2023, compared to 16.67% by the end of the fiscal year 2014/2015.

The Bank's market share in the asset market rose 16.96% of total banking assets by the end of Q3 of 2023, compared to 15.06% by the end of the fiscal year ending June 2015.

Under Mohamed El-Etreby, Banque Misr received a tremendous amount of awards In 2023, it received 90 prizes and advanced position from the world's leading institutions in recognition of its achievements and efforts in various business sectors, most notably: Best Initiative and Best Product for Islamic Banking Services for SMEs in the Middle East and Africa 2023 by The Digital Banker, Best Trade Finance Bank - Egypt 2023 from Global Trade Review, Best Bank in Mobile Banking Services - Egypt 2023 by Cosmopolitan The Daily.