Banque Misr exits $100.2mln investments in 2023: Official

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Banque Misr has gained around EGP 3.1 billion from selling several investments in 2023, an official at the bank told Asharq Business.

The bank is targeting exiting from investments in seven companies for a sum of EGP 1.5 billion, the official noted.

He added that the bank’s current direct investment portfolio includes 165 companies at a value of around EGP 70 billion.

Furthermore, the sources said that the bank is currently preparing to circulate the direct investment portfolio by preparing the targeted exits, which are mostly in the sectors of petroleum and real estate development.

Proceeds from exit transactions will be reinvested in the establishment or contribution to companies operating within the sectors of fintech and financial services that complement real estate development activities like project management and marketing, the source added.