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NBE participated in arrangement of loans worth EGP 58.5bn in H1 2018 - Daily News Egypt

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NBE participated in arrangement of loans worth EGP 58.5bn in H1 2018

Bank is ranked first in Egyptian banking market in syndicated loans according to Bloomberg’s international assessment


Bloomberg’s global banking survey in the first half (H1) of 2018 ranked the National Bank of Egypt (NBE) as the first bank in Egypt for syndicated loans, in which the bank played arranger and bookrunner.

The evaluation also showed the bank’s success in achieving the first position on the continent of Africa for the loans in which it served as the main arranger and bookrunner, which amounted to EGP 58.5bn, next to ranking third in the Middle East and North Africa (MENA) region for syndicated loans, in which the bank acted as a bookrunner.

According to Sherif Riad, head of the bank’s credit group for corporate and syndicated loans, the bank’s success in obtaining these assessments for consecutive years is due to the professional and efficient performance of the employees in the respective sectors of the bank and reflects the network of strong relations with local and foreign banks.

“The bank is based on a huge capital base that goes beyond EGP 93bn, which provides it with the opportunity to inject large sums of money, either individually or through participation in banking alliances,” Riad said.

According to Yehia Aboul Fotouh, deputy chairperson of the bank, the bank’s provision of financing for various economic sectors is a continuation of its role in supporting major national projects with creditworthiness and economic feasibility, which directly and indirectly affect the country’s economy in all sectors of the country.

He affirmed that the bank pays close attention to the joint loan deals in the framework of its keenness to fulfil its role as the largest bank operating in the Egyptian market.

He pointed to the bank’s interest in mega projects related to the vital sectors in the fields of industry, petroleum, electricity, transport, communications, building materials, contracting, food, and real estate development, thus creating added value to the Egyptian national economy.

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