(ERGO) – Egyptians second-largest state bank said it’s eyeing Djibouti in its market expansion strategy this year.
In a statement issued on this week, chairman of the Banque Misr, Mohamed Mahmoud Eletreby said the lender plans to enter Djibouti’s banking market.
“We are studying steps to open whether a branch or representative office in Djibouti, as part of a plan to expand into more countries across various continents,” he said.
Eletreby stated that the bank aims to serve the country’s plan to deepen the economic and trade relations with countries worldwide.
The tiny African nation of Djibouti serves as a gateway to the Suez Canal, one of the world’s busiest shipping routes.
Djibouti also serves as the main gateway for trade for its giant neighbour, landlocked Ethiopia
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