Banque Misr says to add 195 more branches in 2-3 years

Egypt’s second biggest state lender, Banque Misr is planning to inaugurate 195 more branches within two and three years, its chairman Mohamed Eletreby told Amwal Al Ghad on Wednesday.

The bank seeks to have a network of 775 branches, agencies, and offices, compared to 580 currently, Eletreby said.

Banque Misr also intends to increase the number of branches that provide Shariah-compliant banking services to 52 from 37, he added.

Eletreby further revealed that the bank will open up a new administrative headquarters in 90 Street in the Fifth Settlement district, New Cairo within 2017, with initial costs of up to 120 million Egyptian pounds ($6.8 million).