The National Bank of Egypt (NBE) managed 12 financing deals worth EGP 27bn during the first half (1H) of 2023, the largest number of deals arranged, managed, and marketed in Africa during the period, according to the semi-annual evaluation prepared by Bloomberg International on syndicated loan performance.
The evaluation showed that the NBE ranked first as the best bank in the Egyptian banking market when it acted as a financing agent, manager, and lead arranger of syndicated loans.
The results also showed that the NBE ranked fifth when it acted as a financing agent, manager, and marketer of syndicated loans. It ranked seventh for its role as a lead arranger in Africa, and came in third as a manager of syndicated loans. It also ranked 10th as a financing agent in MENA.
Hisham Okasha, Chairperson of the National Bank of Egypt, said that the results of the evaluation are considered a testimony from an international institution with great weight and credibility.
He pointed out that this success reflects the bank’s constant keenness to provide the necessary financing needs for major projects, through NBE arranging, managing and marketing syndicated loan deals with creditworthiness and high economic feasibility. That lead to an increase in added value in the Egyptian economy, in various vital economic sectors such as Industry, infrastructure, real estate development, contracting and building materials, which contribute positively to supporting the country’s economic development, thus providing more jobs for Egyptian youth and increasing economic growth rates.
Yehia Abou El-Fotouh, Deputy Chairperson of the NBE, expressed his pride in the bank’s position. Also, he stressed that the bank pays great attention to syndicated loan deals, based on the strong and growing network of relationships that link the bank with local banks and regional and international financing institutions. These institutions have confidence in the ability of the NBE to complete and manage major deals with high professionalism and craftsmanship. In addition, the bank has a huge and strong capital base that allows the bank to provide the necessary financing that is in line with the needs of customers and the nature of economic activity for each project.
Abou El-Fotouh stressed that these results are an incentive for workers to exert more efforts to maintain this position and achieve more to support major projects.
Sherif Riyad, Executive Director of corporate credit and syndicated loans at the NBE, said that this position reflects the bank’s professionalism and its ability to arrange and manage joint loans in various economic sectors. Riyad stressed the importance of effective and fruitful cooperation with all other Egyptian banks, which also reflects the understanding, harmony and strength of the relationship between all Banks operating in Egypt and the ability of the banking sector to provide cash liquidity to various economic sectors, which reflects the solidity of the Egyptian banking sector.
He added that this success is the culmination of the efforts exerted by the bank’s specialists and work teams. They were professionally able to conclude financing deals in several economic sectors, through various and integrated financing solutions commensurate with those sectors.
Ahmed El-Sersy, Head of the Syndicated Loan Financing Group at the NBE, said that the bank’s success in concluding 12 different financing deals reflects the effectiveness of syndicated loans and their ability to meet the diverse financing needs of customers in several sectors.
