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NBE arranged 48% of syndicated loans in Egypt, Africa in Q1 2018 - Daily News Egypt

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NBE arranged 48% of syndicated loans in Egypt, Africa in Q1 2018

NBE first in Egyptian, African banking markets in syndicated loans, Bloomberg says

The National Bank of Egypt (NBE) arranged 48% of syndicated loans in the Egyptian and African markets during the first quarter (Q1) of 2018, according to a Bloomberg assessment of banks during the first three months of 2018.

According to that evaluation, the NBE was ranked as the best bank in the Egyptian banking market and on the African continent in syndicated loans for which the bank was the main bookrunner and marketer, with a market share of 48% in managing these loans with a total value of EGP 36bn.

The rating also shows that the bank is ranked fifth in the Middle East and North Africa region in syndicated loans for which it has served as the arranger.

According to Yehia Abul Fotouh, NBE vice chairperson, the bank’s provision of all necessary financing to various economic sectors is a continuation of its role in supporting major national projects of creditworthiness, economic feasibility, and as a strategic partner in financing these projects.

He affirmed that the bank pays special attention to the syndicated loan deals, especially the loans that are being arranged for megaprojects related to vital sectors in the fields of industry, petroleum, electricity, transport and communications, building materials, contracting, food, and real estate development.

According to Sherif Riad, head of corporate banking credit and syndicated loans department, the NBE’s ability to maintain its leadership in the Egyptian and African banking markets in the field of syndicated loans is due to the professionalism, fast performance, and efficiency of employees in the respective sectors of the bank.

He added that this is also a result of the network of strong relations between the bank and local and foreign banks, which have confidence in the ability of the NBE to complete and manage the deals in a professional manner.

He noted that the bank is basing its performance on a huge capital base of more than EGP 93bn, which gives it the opportunity to inject large sums of money, either individually or through participating in banking alliances.

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