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NBE accounts for 18% of total syndicated loans arranged in Africa - Daily News Egypt

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NBE accounts for 18% of total syndicated loans arranged in Africa

Bloomberg places NBE first in Egypt and other African markets for arranging marketing and managing syndicated loans during Q1

 The National Bank of Egypt (NBE) acquired 18% of total syndicated loans arranged by all banks operating in the African continent during the first quarter of this year, compared to 3.1% in the first quarter of 2016.

According to an assessment by Bloomberg, the NBE was ranked second in the Middle East and North Africa (MENA) with a 21.5% share in the management and marketing of syndicated loans compared to 6.3% for the same period in 2016, an increase of 15.2% in the market share.

The bank also ranked third in the region as a major organiser for the syndicated loans with a share of 7.8% compared to 1.1% for the first three months of 2016, a 6.7% increase in the market share.

According to NBE deputy chairperson Mahmoud Montasser, the bank succeeded in managing syndicated loans because of its accumulated experience in arranging such types of loans and based on its strong network of relationships with local and foreign banks, which have confidence in the bank’s ability to complete and manage important transactions.

He added that the bank depends on a huge capital base of more than EGP 70bn, which allows the bank to inject large funds either individually or through subscribing in banking alliances.

The NBE places the syndicated loans on top of its list of priorities, which calls for attention to megaprojects related to vital sectors in the fields of energy of all kinds, building materials, contracting, food, real estate development, tourism, transport, and communications, all of which add value to the Egyptian national economy, provide a lot of employment opportunities, and contribute to the advancement of development, according to Montasser.

Amr El Shafei, head of corporate banking at the NBE, said that the syndicated loans the bank arranged and managed during the first quarter (Q1) of 2017 were directed to several strategic sectors.

He pointed out that on top of these sectors came real estate development, electricity, petroleum, and the construction materials sector.



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