Egypt’s Banque Misr preps standalone digital bank

Banque Misr, Egypt’s second-largest commercial bank, is preparing the ground for the launch of a wholly digital bank in the third quarter of 2021 – a first for the country, vice-chairman Akef El Maghraby tells Euromoney.

“It’s an important development for us and for the market,” he says. “We hope to be the first digital bank to be launched and have already applied for a licence.”