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NBE marketed, managed syndicated loans worth EGP 58bn during first nine months of 2017 - Daily News Egypt

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NBE marketed, managed syndicated loans worth EGP 58bn during first nine months of 2017

The loans arranged by the bank have been directed to many strategic sectors, especially construction materials, electricity, oil, and real estate development, says Abo El Fotouh

From January to the end of September 2017, the volume of syndicated loans that the National Bank of Egypt (NBE) arranged and marketed is worth EGP 58bn, with a market share of 16.6% of the total syndicated loans arranged in Egypt and Africa.

The NBE won first place as the best bank in the Egyptian and African banking markets for the syndicated loans that the bank managed and marketed as a finance agent and marketer.

The rating also showed that the bank was ranked sixth in the Middle East and North Africa (MENA) region as a co-financing agent with a market share of 7.3%.

According to Yahya Abo El Fotouh, vice president of the NBE, the syndicated loans managed by the bank in 2017 were directed to several strategic sectors, the most important of which are the construction materials sector, the electricity sector, the oil sector and the real estate development sector.

Abo El Fotouh explained that the success of the bank in maintaining its leadership of the Egyptian and African banking markets in the field of syndicated loans, according to the assessment of Bloomberg International, is due to the professional and fast performance and efficiency of its employees in the sector of the bank’s joint loans.

“As a result of its accumulated experience in arranging such types of loans, the NBE continues its strong network of relationships with local and foreign banks, which have confidence in the ability of the bank to complete and manage large transactions professionally,” according to Abo El Fotouh.

He pointed out that the bank is based on a huge capital base that currently exceeds EGP 86bn, and which gives it the opportunity to inject large funds either individually or through the participation in banking alliances.

Abo El Fotouh affirmed that the NBE pays close attention to the syndicated loan deals, as part of its keenness to carry out its role as the largest bank operating in the Egyptian market.

He added that the NBE shows great interest in mega-projects related to vital sectors in the fields of energy of all kinds, building materials, contracting, food, real estate development, tourism, transport and communication, creating added value to the Egyptian national economy and providing a lot of job opportunities.

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