Egypt’s Banque Misr says to open representative office in Russia in H2

Egypt’s second largest bank, state-owned Banque Misr will open its representative office in Russia in the second half of the current year, its vice chairman Akef El Maghraby told Amwal Al Ghad on Monday.

The bank has also plans to set up presence in Somalia, Kenya, Côte d’Ivoire, and South Korea, El Maghraby added.

Banque Misr opened earlier in April its representative office in China in Guangzhou city, aiming to help promote trade and financial activities between the two countries.