Banque Misr has completed all necessary procedures to launch two offices in Russia and China, Chairman Mohamed El Etreby said, AMAY reported on Saturday. The lender has already hired staff for both offices, with operations expected to commence in the next two months. Banque Misr will be the first Egyptian bank to operate in Russia, while the Chinese branch will operate in China’s Guangzhou province, where a high concentration of Egyptian expats reside, he said. The bank is currently awaiting approval from the central banks of Bahrain and Kuwait to launch two more branches in the Gulf states.