The Banking Executive Magazine - May 2024 Issue

Banque Misr Banque Misr AWARDS $21.22MLN LOAN TO EDITA FOR PRODUCTION EXPANSION In line with its robust marketing strategies and developmental objec- tives, Banque Misr has awarded a long-term loan of EGP 990m to Edita Food Industries. This loan supports the national economy by fostering growth in various sectors. The agreement, signed by Banque Misr Chairperson Mohamed El- Etreby and Edita Chairperson Hani Berzi, spans eight years. It will fi- nance the establishment of four new production lines at Edita, enhancing the company’s capacity. This initia- tive underscores Banque Misr’s com- mitment to economic development, as it continually backs projects that bolster the Egyptian economy and promote sustainable growth. El-Etreby highlighted Banque Misr’s pivotal role in economic support, noting that the bank, as a leading fi- nancial institution, funds a wide array of projects. He pointed out that providing loans with favourable terms and guarantees, coupled with a flexible financing approach, cat- alyzes investment. The food industry is vital for Egypt, contributing to ex- port expansion, job creation, and competitive prowess in international markets, thereby benefiting the econ- omy. Berzi expressed that the loan signifies Edita’s dedication to progress and market leadership. The funds will en- able Edita to satisfy growing product demand and fortify its footprint in the Middle East and North Africa. Banque Misr is committed to collab- orative efforts that align with the gov- ernment’s economic enhancement strategies. The bank focuses on de- livering banking and financial serv- ices efficiently and innovatively. It aims to sustain service excellence, achieve enduring success, and en- gage in customer-centric activities. Banque Misr’s ethos and strategies are firmly rooted in its pledge to Egypt’s sustainable development and prosperity. ISSUE 185 MAY 2024 the BANKING EXECUTIVE 37