The National Bank of Egypt (NBE) has managed and marketed 28 financing deals worth EGP 322.5bn in 2023, the largest number of deals in Africa.
The bank won first place as the best bank in the African and Egyptian banking market for its various roles, such as financing agent, main arranger, document bank, and syndicated loan marketer, according to the annual evaluation by Bloomberg International on the list of syndicated loan performance.
The bank also ranked first as a document bank, second as a syndicated loan marketer, third as a principal arranger, and fourth as a financing agent in the Middle East and North Africa region, among major banks and international financial institutions.
Hisham Okasha, Chairman of the NBE, said that the evaluation is proof of the bank’s credibility and leadership in the field of syndicated loans in Egypt, Africa, and the Middle East region, from a renowned international institution.
Okasha said that this success reflects the bank’s continuous commitment to providing the necessary financing for major projects, with high economic feasibility and creditworthiness. This has increased the added value in the Egyptian economy in various vital sectors, such as transportation, infrastructure, industry, real estate development, contracting, petroleum, tourism, fertilizers, and construction materials, and has supported the country’s economic development.
He also said that this success was achieved despite the great challenges that Egypt and the world have faced recently, and their impact on the Egyptian and global economy. He noted that NBE is the largest and most widespread bank in the sector, with a market share of about 36% of the total financing of the corporate finance sector in the banking sector.
Yahya Aboul Fotoh, Vice Chairman of the Bank, expressed his pride in the effort to maintain the bank’s distinguished position, stressing 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 financial institutions that trust NBE.
Aboul Fotouh emphasized the ability of NBE to grant financing to clients that serve major national projects, as well as projects in various sectors that contribute to the economic development of the country. The corporate loan portfolio reached about EGP 2.1tn in 2023 and was granted to several projects in different sectors, including industrial, agricultural, tourism, and service projects, with various specializations.
He also pointed out that the bank is aligned with the state’s direction towards supporting sustainable development and green financing, by activating the financing of these projects, such as energy efficiency, new and renewable energy, combating industrial pollution, and recycling waste. He said that sustainable development projects were financed for 37 companies in 2023.
Sherif Riad, CEO of corporate banking credit and syndicated loans at NBE, said that this position reflects the bank’s professionalism and its ability to arrange and manage syndicated loans in various economic sectors. He highlighted the importance of effective and fruitful cooperation with all other Egyptian banks, which also reflects the understanding, harmony, and strength of the relationship among them.
He added that NBE played the role of a financing agent in 23 financing deals out of a total of 28 joint loans. He pointed out that this success is considered a culmination of the efforts made by the bank’s specialists and work teams, which were able to professionally conclude financing deals in several economic sectors, through different and integrated financing solutions that suit the needs of these sectors.
