Banque Misr's General Assembly, convened on August 22, 2023, gave its approval to the financial statements for the fiscal year culminating in December 2022. These statements unveiled an impressive surge in growth rates across all sectors of the bank's operations. The aggregate financial position surged to approximately EGP 2.2 trillion by the conclusion of December 2022, a significant escalation from the EGP 1.6 trillion recorded in December 2021, signifying a robust growth rate of around 37.5%. Moreover, the balance of net direct loans extended to customers leaped by 16.2%, ascending to EGP 686.3 billion as compared to EGP 590.6 billion in December 2021. This escalation was propelled by a 16.2% expansion in total retail loans and a 17.3% upsurge in total institutional loans.

Concurrently, the balance of customer deposits also observed a substantial growth of 41.7%, reaching EGP 1.7 trillion in contrast to EGP 1.2 trillion in December 2021. Impressively, the bank elevated its total profit before tax to EGP 40.8 billion, with a tax payment of EGP 15.9 billion, thus culminating in a net profit of EGP 25 billion for the fiscal year concluding on December 31, 2022.

It's noteworthy that the retail banking portfolio demonstrated remarkable growth, boasting a 16.2% increase over the balances recorded at the conclusion of December 2021. In addition, the number of issued cards surpassed an impressive 14.8 million, with the majority equipped with the advanced Smart Chip system. This achievement positions Banque Misr in second place among Egyptian banks for the highest number of electronic payment cards. Furthermore, the bank has established partnerships with an extensive network of merchants, with a presence in 59,562 locations across all governorates of the Republic.

The volume of transactions conducted by these affiliated merchants, encompassing both POS (Point of Sale) machines and the E-commerce system, has surpassed an annual sum of over EGP 82.6 billion. In line with international standards, Banque Misr provides these merchant sites with the latest POS machines, compliant with the rigorous PCI DSS (Payment Card Industry Data Security Standard) requirements, featuring the latest version 3.2.1, as per the specifications mandated by international organizations.

Banque Misr places significant emphasis on promoting financial inclusion, aligning its efforts with the Central Bank's strategy to enhance financial accessibility. One of its pivotal objectives is the shift from a cash-based society to a cashless one, aligning with the directives of the National Council for Electronic Payments, under the leadership of the President of the Republic. This overarching vision aims to reduce the reliance on physical banknotes outside the formal banking sector and instead encourage the adoption of electronic payment methods and channels.

In pursuit of this goal and to cater to the diverse needs of its customers, the bank has introduced a range of solutions designed to automate salary payments for both public and private sector enterprises. These solutions encompass various salary transfer products, including payroll cards and payroll accounts. Impressively, Banque Misr has established partnerships with 3,297 companies, facilitating the distribution of 1.35 million payroll cards and over 308 thousand payroll accounts.

Furthermore, the bank has introduced an electronic payment service for taxes and customs, streamlining these critical financial transactions. In the realm of electronic products, Banque Misr has significantly expanded its offering, notably the BM Wallet, which amassed approximately 1.962 million users by December 2022.

Additionally, the bank manages electronic wallets that have seen growing customer reliance, particularly for executing transfers and settling various bills. This underscores the increasing acceptance and utility of these digital financial solutions among our valued customers.

It is worth mentioning that Banque Misr maintains its premier position for the seventeenth consecutive year since the initiation of the Ministry of Finance's salary automation system in 2005. This achievement places the bank at the forefront of institutions participating in the system, boasting a substantial market share of 48%. Additionally, the bank oversees a significant number of cards—totaling 2.754 million—that are linked to 1,438 government agencies engaged in contractual partnerships with Banque Misr. Furthermore, the cumulative value of salaries, encompassing both the public and private sectors, surpasses EGP 150 billion. These funds are efficiently transferred annually through the bank, reaffirming its pivotal role in facilitating secure financial transactions.

Within the context of promoting financial inclusion, the bank is enthusiastically committed to providing financial services to diverse segments of society through an expansive geographical expansion strategy. Consequently, the bank is diligently working to proliferate its branches nationwide, ensuring that Banque Misr remains in close proximity to its customers, regardless of their location. As a result of these efforts, numerous branches have already been established, solidifying Banque Misr's position as the institution with the most extensive branch network in the country. As of July 2023, the bank boasts approximately 827 branches and banking units strategically dispersed throughout the Republic.

In addition to its significant national presence, Banque Misr has also established a robust regional and global footprint. This includes branches in the United Arab Emirates and France, as well as subsidiaries in Lebanon and Germany. Furthermore, the bank operates representative offices in key international locations, including China (Guangzhou), Russia (Moscow), South Korea (Seoul), Italy (Milan), and Côte d'Ivoire (Abidjan). Additionally, there is a representative office in Kenya (Nairobi).

Looking ahead, Banque Misr has ambitious plans for expansion in both Africa and the Middle East. These plans encompass initiatives to establish foreign branches in Saudi Arabia and Somalia, the establishment of a subsidiary bank in Djibouti, and the transformation of the Kenya representative office into a full-fledged branch within three years of its initial operation. Furthermore, the bank maintains an extensive network of correspondent banks, facilitating global financial operations across all countries worldwide.

Banque Misr has proudly taken the lead as the first public sector bank to establish branches dedicated to Islamic banking transactions, known as Kenana. As of the end of July 2023, the Kenana branches have proliferated to an impressive total of 56, strategically dispersed across the Arab Republic of Egypt.

Distinguished by its commitment to cutting-edge technology and customer convenience, Banque Misr boasts an advanced network of ATMs that surpassed 5,155 units by the close of December 2022. These ATMs are outfitted with state-of-the-art technology, offering an array of services that encompass withdrawals, deposits, currency exchange, bill payments, donations, and even cash transfer services. In a pioneering move, Banque Misr stands as the trailblazer by providing withdrawal and deposit services for electronic mobile wallets through its ATM network. This dedication to innovation underscores the bank's unwavering commitment to enhancing the banking experience for its valued customers.

Banque Misr has embarked on an impressive journey of digital transformation. One notable milestone includes the comprehensive modernization and expansion of its BM Online banking service, enriching it with an extensive range of banking services accessible to customers through its online platform. Further demonstrating its commitment to digital innovation, the bank has introduced electronic banking services via mobile phones, delivered through a user-friendly mobile banking application. Among its pioneering achievements, Banque Misr stands out as one of the first banks to offer a mobile payment service through the "BM Wallet" application.

Breaking new ground in Egypt, Banque Misr has harnessed the power of artificial intelligence to introduce a Chat Bot service, available 24/7 via its website, providing customers with swift and efficient assistance. In another remarkable first for Egypt, the bank has enabled mobile wallet customers to make purchases at points of sale and online platforms using QR code technology.

Furthermore, Banque Misr has streamlined access to microfinance, introducing an automated process to deliver this vital service with unprecedented speed. These endeavors underscore Banque Misr's dedication to offering cutting-edge solutions that enhance the banking experience for its valued clientele.

In the realm of Islamic banking within the retail sector, Banque Misr leaves no stone unturned in providing a comprehensive suite of modern banking services. This encompasses the issuance of various types of cards, alongside an array of innovative products designed to cater to the needs of patrons utilizing the Islamic transactions branches, known as Kenana.

Among these offerings are a diverse range of Murabaha products, including Hajj and Umrah Murabaha, durable goods Murabaha, tourist trips Murabaha, car Murabaha, and education Murabaha, designed to facilitate the financing of expenses and school supplies.

Additionally, Banque Misr has taken a significant step by introducing the Takaful bank insurance service in collaboration with the Egyptian Takaful Insurance Company. The results are evident, with the portfolio experiencing a robust growth rate of 11.9% compared to the balances recorded at the close of December 2021. This underscores Banque Misr's unwavering commitment to providing innovative and Sharia-compliant banking solutions within the realm of Islamic finance.

Furthermore, Banque Misr extends its financial support to small, medium, and micro enterprises (SMEs) across all governorates, encompassing a broad spectrum of industrial, agricultural, and service sectors. As of the conclusion of December 2022, the bank's portfolio dedicated to SMEs amounted to approximately EGP 58.9 billion.

This commitment has translated into tangible results, with the number of customers availing themselves of the SME portfolio exceeding 160 thousand by the close of 2022. Banque Misr's ongoing endeavors in this domain signify its dedication to bolstering economic growth, fostering entrepreneurship, and addressing the diverse financial needs of SMEs, which play a pivotal role in driving economic development.

Banque Misr is deeply committed to addressing the diverse needs of all segments of society in a manner that actively contributes to the advancement of development. This dedication extends to combating unemployment and fostering societal progress. In line with this commitment, Banque Misr has actively collaborated with the Ministry of Local Development in implementing the "Mashrouak" program.

The primary objective of this collaboration is to provide financial support to micro and small enterprises, streamlining the process through a one-stop shop approach located in various local units across the Republic. As a result, the Islamic banking portfolio allocated to small, medium, and micro enterprises had reached approximately EGP 6.9 billion by the conclusion of December 2022. Banque Misr's involvement in such initiatives reflects its unwavering commitment to driving economic growth, empowering local businesses, and promoting socio-economic development on a broader scale.

Banque Misr has emerged as a formidable force in providing financing solutions to large-scale enterprises across a diverse range of sectors. The bank's impressive track record underscores its status as one of the foremost national financial institutions in this regard.

The size of Banque Misr's corporate credit and syndicated loans portfolio experienced remarkable growth, registering an impressive 21% increase over the balances recorded at the conclusion of December 2021. Furthermore, the Islamic banking portfolio dedicated to corporate credit and syndicated loans demonstrated even more substantial expansion, surging by an impressive 43% in comparison to the figures from the end of December 2021.

This substantial growth reflects Banque Misr's commitment to supporting and facilitating the financing needs of large companies, thereby contributing significantly to economic development and the prosperity of various industrial sectors.

Amidst its proactive pursuit of comprehensive marketing strategies aimed at attracting new customers and facilitating financing operations, Banque Misr remains unwavering in its commitment to executing strategic development initiatives. These endeavors are driven by a core objective: to fortify the national economy across diverse sectors.

At present, the bank is actively engaged in the advancement of 33 significant financing transactions, all meticulously tailored to meet specific needs, across various industries. These sectors encompass real estate investment, maritime and river transport, oil and gas, financial services, building materials, education, tourism, among others. The collective value of these endeavors is estimated at an impressive 106.6 billion pounds, underscoring the bank's dedication to stimulating economic growth and prosperity.

Furthermore, Banque Misr is also immersed in the pursuit of Sharia-compliant financing, a reflection of its commitment to diverse financial solutions. Within this framework, the bank is engaged in the study and targeting of three major financing operations, spanning domains like real estate investment and electricity, with an approximate value of 17.9 billion pounds. These operations epitomize the bank's pivotal role as one of Egypt's premier national banks, firmly establishing its influential position within the Egyptian banking landscape.

Banque Misr has embraced a comprehensive strategy geared towards revolutionizing the Egyptian banking sector through digital transformation. This strategy is underpinned by the localization of cutting-edge technological services on a broader scale, the agile methodology's implementation across diverse sectors, and a commitment to working smarter, faster, and with greater simplicity. Central to this approach is a proactive endeavor to lead the market with innovative digital products, services, and solutions, all designed to resonate with new segments of the bank's customer base.

At the forefront of this digital evolution is the implementation of a flexible work model. Initially rolled out across various sectors, this model has been instrumental in delivering enhanced value to our customers. By fostering agility and efficiency, we aim to provide our customers with a banking experience that is not only distinctive but also aligns seamlessly with their evolving needs and the dynamic shifts in the financial landscape. Our dedication to this digital transformation is a testament to our commitment to staying at the vanguard of banking excellence.

Our commitment to digital innovation has led to the launch of several pivotal products and services. Notably, we introduced mobile and internet banking services for individuals under the banner of BM Online. Additionally, our BM Online Business platform has empowered companies to engage in a diverse array of banking transactions, including instant transfers (IPN), government payments, and bulk payments.

Our Express suite of digital products has been tailored to efficiently address the needs of small and micro-entrepreneurs, enabling them to conduct their banking activities online with ease and speed. Most recently, we unveiled the capability for companies to open online express accounts, streamlining the account setup process with minimal documentation requirements.

Within the ambit of our Banque Misr Express electronic services, both the Microfinance Online and Express Standard and Islamic offerings have made significant strides. We've extended credit portfolios to approximately 25,000 customers, amounting to roughly EGP 24.7 billion as of December 31, 2022. Furthermore, our Murabaha Express portfolio, as of the same date, totaled EGP 2.7 billion, serving approximately 2,600 customers. These advancements underscore our unwavering dedication to providing cutting-edge banking solutions that empower individuals and businesses alike.

Banque Misr has a rich history of active engagement in social responsibility, and it stands as one of the leading institutions deeply committed to environmental and social obligations. We take these responsibilities to heart and have seamlessly woven them into our operational fabric to ensure the long-term sustainability of our business.

In a groundbreaking achievement, Banque Misr became the first Egyptian state-owned bank to earn the esteemed approval of the International Standards Organization for Sustainability Reporting (GRI). We diligently craft business reports that align with the principles of sustainability, meticulously considering governance, human rights, anti-corruption measures, community involvement, and safety standards.

Furthermore, we proudly adhere to the exacting standards set forth by the United Nations Global Compact for corporate citizenship and social responsibility. Our commitment to these principles led us to join the financial initiative of the United Nations Environment Program, culminating in the launch of the "Principles for Responsible Banking." This initiative underscores our dedication to sustainable development and upholding corporate social and environmental responsibilities.

Banque Misr's unwavering commitment to community development is evident in our substantial investment of approximately one billion pounds between January 2022 and December 2022. We believe that true progress is marked not only by financial success but also by our positive impact on the well-being of the communities we serve.

In the year 2022, Banque Misr achieved a remarkable feat by garnering 73 prestigious awards and securing elevated positions from prominent international institutions. These accolades serve as a testament to our unwavering commitment and tireless efforts across various business sectors. They symbolize not just recognition but a resounding validation of the trust our customers place in us.

At Banque Misr, our customers are at the heart of our endeavors. We view them as invaluable partners in our journey towards success across all endeavors. Our unswerving focus revolves around fostering and nurturing this trust. It is this partnership that propels us forward, driving us to continuously elevate the quality of our services.

Our commitment extends beyond recognition; it is rooted in our core values and strategic vision. We are dedicated to refining our services, ensuring a sustainable path towards success that benefits both our customers and the nation at large. Guided by these principles, Banque Misr stands as a steadfast advocate for the long-term development and prosperity of Egypt.