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NBE's syndicated loans reach EGP 15bn in 1Q19 - Daily News Egypt

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NBE’s syndicated loans reach EGP 15bn in 1Q19

Bank ranked first in Egyptian market as bookrunner, agent, marketer of joint loans: Bloomberg

The Bloomberg’s international banks’ assessment during the first quarter (Q1) of 2019 showed that the National Bank of Egypt (NBE) ranked first in the Egyptian banking market in terms of syndicated loans, where the bank acted as the finance agent, bookrunner, and marketer of joint loans.

The value of syndicated loans that the NBE arranged during this period reached EGP 15bn, with a market share of 6.8%.

According to Bloomberg, the NBE has also won the fifth position in Africa, and the same rank across the Middle East for syndicated loans, acting as the finance agent after institutions and international banks.    

According to Hisham Okasha, chairperson of the NBE, the bank’s provision of all necessary financing for various sectors is a continuation of its role to support the public and private sectors with creditworthiness and economic feasibility, both directly and indirectly, as a strategic partner in the financing of these projects.

Okasha stressed that the bank constantly pays close attention to the joint loan deals, as part of its keenness to carry out its role as the largest bank operating in the Egyptian market.

He also referred to the bank’s interest in megaprojects related to vital sectors in the fields of agriculture, industry, petroleum, electricity, transport, communications, construction materials, contracting, food, and real estate development, which contribute to creating added value for the Egyptian national economy.

According to Yehya Aboul Fotouh, deputy chairperson of the NBE, the bank’s acquisition of this valuation comes as a result of its strong relationship network with local and foreign banks, who have confidence in the NBE’s ability to complete and manage large transactions professionally.

He pointed out that the NBE has a large capital base, which gives it the opportunity to inject large funds, either individually or through participating in banking alliances.

Moreover, Aboul Fotouh added that effective and fruitful cooperation with other Egyptian banks also reflects the strong relationship between all banks operating in the banking sector.

According to Bloomberg’s global assessment, the success of the NBE in maintaining its leadership of the Egyptian and African banking market in the field of syndicated loans for consecutive years is mainly due to the professionalism, speed of performance, and the efficient employees in the bank’s sectors concerned with these loans, according to Sherif Riyad, head of the bank’s Corporate Credit and Syndicated Loans Department.

He stressed that the bank pays enduring attention to the human element, which he considers its true wealth.   

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