Banque Misr has set up a plan to exit from some selected non-core investments and sell some lands and properties acquired through debt settlements. Exiting these investments aims at focusing on key banking activities, as well as strengthening the bank’s capital base. Chairman of Banque Misr, Mohamed El-Etreby, said the bank intends to exit from some 100 firms over the coming two years, adding that the plan was discussed with the Central Bank of Egypt (CBE). El-Etreby added that the bank owns stakes in 162 firms operating in all economic sectors, in addition to a large land portfolio valued at EGP7bn, which resulted from customers’ debts settlements. With 12% capital adequacy ratio, Banque Misr is capitalised at EGP15bn. The bank has recently obtained a supporting deposit from the CBE to shore up its capital. (Al Mal)