Banque Misr was established in 1920 by the pioneer economist and financial expert Mohamed Talaat Harb Pasha, who spearheaded the concept of investing in national savings and directing them towards economic and social development.
On the scale of the Middle East and North Africa region, Banque Misr maintained its top ranking among Egyptian banks, ranking at fifth place among Bookrunners and the sixth place among Mandated Lead Arrangers in the MENA region for the third quarter of 2017.
Banque Misr is committed to, and closely collaborates with, international efforts and internal initiatives to automate its planning & budgeting, and financial consolidation process.that’s why Banque Misr chose Azdan for business advisory, application implementation, and operation support.
Azdan business advisory helped the bank’s finance department to generate their financial consolidation according to the best practices and global standards, which enabled the applications consultants to reflect Bank Misr’s current financial position replacing manual excel spreadsheets.
Banque Misr chose Azdan because the financial consolidation environment at Banque Misr was very complex, as Banque Misr structure contains many different subsidiaries and associates, which are a combination of operating entities, holding entities, Financial and nonfinancial institutions.
In addition to this, Banque Misr was in need to business advisors to map and design the planning process and applications consultants to implement/automate it, in order to provide the organization with a confirming structure to the actuals to allow for actual vs budget performance variance analysis.