Within the Middle East and North Africa region, NBE ranked as the third top financing agent and main arranger
The National Bank of Egypt (NBE) secured first place in Bloomberg’s Africa syndicated loans league table as the continent’s and Egypt’s top financing agent, main arranger, and marketer of syndicated loans in 2021.
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.
Within the Middle East and North Africa region, NBE ranked as the third top financing agent and main arranger, and placed fourth as a marketer of syndicated loans.
Chairperson of NBE, Hisham Okasha, explained 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.
The success reflected 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, Okasha added.
This supported Egypt’s development plans in various economic sectors, including transportation, agriculture, industry, infrastructure, education, petrochemicals and real estate development, as well as creating new jobs.
Yehia Aboulfotouh, Deputy Chairperson of the NBE, 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.