Banque Misr to open offices in Kenya, South Korea in 2018

CAIRO - 12 November 2017: Egypt's second largest state-owned bank Banque Misr is planning to open two offices in South Korea and Kenya in 2017, the bank’s Deputy Chairman Akef Maghraby said Sunday.

In an official statement, Maghraby said that the two countries were chosen for having increased bilateral trade with Egypt.

In August, Maghraby announced that Banque Misr was studying opening offices in India and Tanzania in 2018. The branches will likely be in India’s capital New Delhi and Tanzania’s capital Dodoma, he said.

The new offices come as part of the bank’s expansion plan in Asian and African countries, with the aim of increasing Egypt’s bilateral trade with them.