Al-Sisi reviews Egypt's food security, strategic commodity reserves    Egypt signs strategic agreements to attract global investment in gold, mineral exploration    Syria says it will defend its territory after Israeli strikes in Suwayda    Egyptian Exchange ends mixed on July 15    Suez Canal vehicle carrier traffic set to rebound by 20% in H2: SCA chief    Tut Group launches its operations in Egyptian market for exporting Egyptian products    China's urban jobless rate eases in June '25    Egypt's Health Minister reviews drug authority cooperation with WHO    Egypt urges EU support for Gaza ceasefire, reconstruction at Brussels talks    Pakistan names Qatari royal as brand ambassador after 'Killer Mountain' climb    Health Ministry denies claims of meningitis-related deaths among siblings    Egypt, Mexico explore joint action on environment, sustainability    Egypt, Mexico discuss environmental cooperation, combating desertification    Needle-spiking attacks in France prompt government warning, public fear    Foreign, housing ministers discuss Egypt's role in African development push    Korea Culture Week in Egypt to blend K-Pop with traditional arts    Egypt, France FMs review Gaza ceasefire efforts, reconstruction    CIB finances Giza Pyramids Sound and Light Show redevelopment with EGP 963m loan    Greco-Roman tombs with hieroglyphic inscriptions discovered in Aswan    Egypt reveals heritage e-training portal    Three ancient rock-cut tombs discovered in Aswan    Egypt condemns deadly terrorist attack in Niger        Sisi launches new support initiative for families of war, terrorism victims    Egypt's GAH, Spain's Konecta discuss digital health partnership    Egypt expands e-ticketing to 110 heritage sites, adds self-service kiosks at Saqqara    Egypt's Irrigation Minister urges scientific cooperation to tackle water scarcity    Palm Hills Squash Open debuts with 48 international stars, $250,000 prize pool    Egypt's Democratic Generation Party Evaluates 84 Candidates Ahead of Parliamentary Vote    On Sport to broadcast Pan Arab Golf Championship for Juniors and Ladies in Egypt    Golf Festival in Cairo to mark Arab Golf Federation's 50th anniversary    Germany among EU's priciest labour markets – official data    Cabinet approves establishment of national medical tourism council to boost healthcare sector    Egypt's PM follows up on Julius Nyerere dam project in Tanzania    Paris Olympic gold '24 medals hit record value    A minute of silence for Egyptian sports    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



NBE manages 51 financing deals worth over EGP 235bn in 2021
Bank ranks first in Egyptian, African banking markets as financing agent, main arranger, marketer of syndicated loans during 2021: Bloomberg
Published in Daily News Egypt on 09 - 01 - 2022

Bloomberg has announced that the National Bank of Egypt (NBE) has won the first place as the top bank acting as a financing agent, main arranger, and marketer of syndicated loans in the Egyptian and African banking markets.
The bank also ranked third as a financing agent and main arranger, and fourth place as a marketer of syndicated loans across the Middle East and North Africa (MENA) region.
According to a statement by the bank, the NBE managed 51 financing deals worth more than EGP 235bn in 2021, which is the largest number of deals arranged and managed in the MENA region.
Hisham Okasha, Chairperson of the NBE, said that the evaluation results were a testimony from an international institution of great credibility of the bank's leadership in the field of syndicated loans in Egypt and MENA.
He added that this success was a reflection of the bank's continuous endeavor to provide the financing needs of major projects, especially national ones, by arranging, managing and marketing syndicated loan deals with creditworthiness and high economic feasibility which lead to an increase in added value in the Egyptian economy. This eventually supported the state's directions and plans for development in various vital economic sectors such as transportation, agriculture, industry, infrastructure, education, petrochemicals and real estate development. It also generates more jobs for Egyptian youth and increases economic growth rates. This success was achieved despite the great challenges that Egypt, and the whole world, witnessed over the past year.
Yehia Aboulfotouh, Deputy Chairperson of the NBE, said that the bank always sought to provide innovative financing solutions that suit various sectors. He pointed out that the bank arranged on-lending financing for the first time in the Egyptian banking market, in cooperation with regional and international banks and export credit agencies.
The bank's success in managing syndicated loan deals was based on the strong and growing network of relationships that the bank has with local banks and regional and international financing institutions, according to Aboulfotouh. All these institutions have great confidence in the NBE's ability to complete and manage major deals. In addition, the bank's strong capital base allows it to provide the necessary funds.
Sherif Riad, Corporate and Syndication CEO at the NBE, said that the new ranking reflected the bank's professionalism and its ability to arrange and manage syndicated loans in various economic sectors.
He added that this success is the culmination of the efforts made by the specialists and work teams of the bank, enabling it to professionally conclude 51 deals in several economic sectors, through various financing solutions that suit the special nature of each sector and meet the needs of customers based on the studies carried out by specialists.
Ahmed El-Sersy, head of the Syndicated Loans Sector at the NBE, noted that in 2021, the bank arranged several syndicated loans of different terms ranging from three to 12 years, in order to finance the various needs of several clients. These needs include financing new projects, expansions of existing companies and restructuring Credit facilities in the petrochemicals, agriculture, electricity, transportation and real estate finance sectors.


Clic here to read the story from its source.