The National Bank of Egypt (NBE) has arranged and managed 17 syndicated loans worth EGP 65bn in 2015, according to Deputy Chairman of NBE Mahmoud Montasser. Among the funds provided by the groups of lenders in these syndicated loans, the NBE contributed EGP 23bn which accounts for more than 35% of their value.
The bank has provided funding for projects in the sectors of energy, building materials, construction, food commodities, real estate development, tourism, transport, and communications, Montasser said in a statement issued by the bank Wednesday.
The electricity sector accounted for the largest share of loans, with a total value of EGP 30.8bn, followed by the petroleum sector at EGP 14.8bn, the construction sector at 9.45bn, and the transport sector at EGP 7.8bn. The Bloomberg Foundation classified the NBE as the best bank in the Egyptian banking market in the field of syndicated loans.
The Bloomberg evaluation also revealed that the NBE was the best bank among African banks and fifth best in the Middle East and North Africa in the field of arranging syndicated loans.Deputy Chairman Mahmoud Montasser accounted for the NBE rating by appealing to the bank’s relationship with foreign banks, allowing it to act as a mediating agent.
The NBE accounted for a market share of 16.55% in funds provided to national projects in 2015, compared to 4.37% at the end of 2014.
The NBE was appraised at fifth place among banks in the Middle East and North Africa in the field of arranging syndicated loans, with a market share of 8% compared to 2.4% at the end of 2014.
