Banque Misr’s Retail Banking Volume Hit EGP 2.9 Bln At End-June 2012

Banque Misr’s retail banking portfolio surged to 2.9 billion at the end of June 2012, compared to EGP 1.9 billion at the end of June 2011, registering an increase of 52.6%.

The bank had held its general assembly meeting last Sunday to discuss and approve the financial statements for the fiscal year that ended in June 2012 as well as grant discharge from liability to the board members for the same period.

The number of issued payment cards reached 2.2 million cards at the end of the fiscal year that ended in June 2012 as the bank acquired the second position by seizing 15% market share of Visa payment cards, while it acquired the third position by seizing 13.6% market share of MasterCard payment cards.

The bank raised the number of issued payment cards by 300,000 cards to reach 2.5 million cards as of the end of 2012. Banque Misr is at the top of local banks in acquiring points of sale as it has more than 11,000 points of sale compliant with the international standards.