The National Bank of Egypt (NBE) succeeded in arranging nine syndicated loans worth EGP 51bn in 2019, with a market share of 8.14% in Africa.
The bank arranged, marketed, and managed EGP 242bn syndicated loans over the last three years, topping the Egyptian banking market in this area.
Bloomberg International ranked the NBE first in managing syndicated loans in the Egyptian banking market. The bank also ranked third on the African level, and seventh in the Middle East in terms of syndicated loans.
Hisham Okasha, chairperson of the NBE, said that this success is due to the bank’s interest in supporting the national economy and providing the necessary financing needs for economic growth in various sectors. Syndicated loans contribute to creating added-value in the Egyptian economy and increasing employment, he added.
Moreover, Yehia Aboul Fotouh, deputy chairperson of the NBE, said the bank’s access to this privileged position among banks in Egypt, the Middle East, and Africa is the culmination of all its efforts. This position is also meant to complement the bank’s plans to maintain its leading position as the largest bank operating in Egypt.
He stressed that this success comes as a result of a strong network of ties between the NBE and local and foreign banks that have confidence in the bank’s ability to arrange and manage major loans professionally.
Sherif Riad, head of the bank’s credit group for corporate and syndicated loans, said that this success demonstrates the bank’s professionalism and ability to arrange and manage syndicated loans in various sectors.
He stressed that the effective and fruitful cooperation among the banks operating in Egypt also reflects the strong and stable environment in the banking sector.