Banque Misr: Real Estate Assets hike to EGP7.7 billion

Banque Misr, the second largest public sector bank in Egypt, currently registers real estate assets of around 7.7 billion Egyptian pounds (US$1 billion), head of capital markets group Suzan Hamdy said.

In June 2014, Banque Misr’s real estate portfolio had reached around 6 billion pounds following reaching debt settlements with its clients.

Speaking to Amwal Al Ghad on Wednesday, Hamdy stated that Banque Misr plans to utilise more investment opportunities so as to get rid of stagnant assets.

The bank is targeting attaining good results and offering clients more products within the current fiscal year, the banking official added.