Banque Misr launches Riyadh branch, begins banking operations in Saudi Arabia

Banque Misr has officially launched its branch in Riyadh, marking the start of its banking operations in Saudi Arabia after completing all regulatory requirements and obtaining approval from the Saudi Central Bank (SAMA).

The expansion reflects the growing economic partnership between Egypt and Saudi Arabia and reinforces Banque Misr’s strategy to support business activity, facilitate investment flows and strengthen financial cooperation between the two countries.

The Riyadh branch will offer a comprehensive range of banking services and financial solutions tailored to corporate clients, supporting commercial and investment activities at a time when the Saudi economy continues to record strong growth and attract significant investment.

During its initial phase, the branch will focus on serving Egyptian companies operating in Saudi Arabia and supporting their expansion plans, while also providing banking services to Saudi companies investing in Egypt, helping to facilitate bilateral investment and deepen economic cooperation.

The launch comes amid rapidly expanding trade and investment ties between Egypt and Saudi Arabia and is expected to contribute to the economic development objectives of both countries.

Hisham Okasha, Chief Executive Officer of Banque Misr, described the opening of the Riyadh branch as a major milestone in the bank’s regional and international expansion strategy, reflecting the longstanding historical and economic relationship between Egypt and Saudi Arabia.

He said the successful launch was made possible through close cooperation with the Saudi regulatory authorities, particularly the Saudi Central Bank, adding that the new branch will help strengthen the business and investment environment and support economic partnerships between the two countries.

Okasha added that Banque Misr aims to provide advanced banking services that meet the evolving needs of the business community while facilitating greater trade and investment between Egypt and Saudi Arabia in line with both countries’ development strategies.

Yahya bin Ahmed Al-Rifai, Chief Executive Officer of Banque Misr’s Saudi Arabia branch, said the commencement of operations represents an important step in the bank’s international expansion strategy and reinforces its regional presence.

“We look forward to providing distinguished banking services that support the business community in the Kingdom and contribute to strengthening the economic and investment ties between Saudi Arabia and Egypt, benefiting from the Kingdom’s leading economic position and the significant development of its financial sector under Saudi Vision 2030,” he said.

Al-Rifai added that the successful launch reflected the extensive efforts of the bank’s teams, supported by Banque Misr’s executive management, which enabled the completion of all regulatory and operational requirements in accordance with the highest professional standards.

Hossam El Din Abdel Wahab, Deputy Chief Executive Officer of Banque Misr, said the Riyadh branch represents an important strategic step in strengthening the bank’s regional footprint and reinforcing its role as a leading financial institution supporting economic and investment relations between Egypt and Saudi Arabia.

He said the branch will serve as a strategic platform for expanding Banque Misr’s cross-border business, broadening the range of banking services available to clients across the region, supporting trade and investment, and creating new opportunities for economic and financial cooperation.

Abdel Wahab added that the bank aims to deepen its partnerships with the Saudi business community while capitalising on the opportunities created by the Kingdom’s dynamic economy, supporting Banque Misr’s long-term strategy for sustainable growth and regional expansion.

The opening of the Riyadh branch forms part of Banque Misr’s broader strategy to strengthen its presence in regional and international markets. The bank operates one of the largest banking networks in Egypt and the Middle East and North Africa, with around 900 branches and banking units nationwide.

In addition to its domestic network, Banque Misr maintains an international presence through overseas branches, subsidiaries and representative offices in several global markets, supported by an extensive correspondent banking network that enables it to provide integrated banking services to customers in Egypt and abroad.

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