NBE’s syn­di­cated loans share in Africa amounts to 9.7%: Bloomberg

Bank leads Egyp­tian mar­ket in joint loans in 2018

The Daily News Egypt - - News -

The Na­tional Bank of Egypt (NBE) was ranked as the best bank in the Egyp­tian and African bank­ing mar­kets for syn­di­cated loans, in which the bank acted as a fi­nance agent in 2018, ac­cord­ing to an as­sess­ment by Bloomberg.

Bloomberg noted that the vol­ume of syn­di­cated loans which the bank par­tic­i­pated in dur­ing 2018 reached EGP 74bn, with a mar­ket share of 9.7%.

The Bloomberg val­u­a­tion also put NBE in fifth place in the MENA re­gion for syn­di­cated loans in which the bank acted as the fi­nance agent.

Ac­cord­ing to Ye­hya Aboul Fo­touh, the deputy chair­per­son of the NBE, the pro­vi­sion of all the nec­es­sary fund­ing for var­i­ous sec­tors is a con­tin­u­a­tion of the bank’s role in sup­port­ing ma­jor na­tional projects with credit and eco­nomic fea­si­bil­ity, both di­rectly and in­di­rectly. He af­firmed that the bank pays great at­ten­tion to the joint loan deals, point­ing out the bank’s fo­cus on megapro­jects re­lated to the vi­tal sec­tors in the fields of in­dus­try; petroleum; elec­tric­ity; trans­port; com­mu­ni­ca­tions; build­ing ma­te­ri­als; con­tract­ing; food, as well as real es­tate de­vel­op­ment, which moves the econ­omy for­ward, cre­ates added value, and pro­vides jobs.

Ac­cord­ing to Sherif Riyad, head of the bank’s Cor­po­rate Credit and Syn­di­cated Loans Depart­ment, the bank’s ac­qui­si­tion of this rat­ing from Bloomberg In­ter­na­tional for con­sec­u­tive years is due to the pro­fes­sion­al­ism and the speed of per­for­mance and ef­fi­ciency of its em­ploy­ees in the re­spec­tive sec­tors of the bank,and also comes as a re­sult of its strong net­work of re­la­tion­ships with lo­cal and for­eign banks.

Riyad added that the bank’s re­liance on a large cap­i­tal base gives it the op­por­tu­nity to in­ject large funds, ei­ther in­di­vid­u­ally or through par­tic­i­pa­tion in bank­ing al­liances.

Bank’s re­liance on a large cap­i­tal base gives it the op­por­tu­nity to in­ject large funds

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