Cairo –   Banque Misr is in talks with the Saudi Arabian Monetary Authority (SAMA) to obtain a licence to inaugurate a new branch in the GCC kingdom, the bank’s vice chairman Akef El-Maghraby said.

The Egyptian lender also aims to open a new office at Dubai World Trade Centre and open two new branches in South Korea and Italy in the upcoming period, along with its branch in Kenya, El-Maghraby added on the sideline of the annual Arab Banking Conference on Sunday.

Banque Misr also plans to provide factoring services through its financial leasing arm, BM Lease, he noted.

Source: Mubasher

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