The National Bank of Egypt achieved outstanding results in Q1-2023 in syndicated loans at the local and intern

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Bloomberg: NBE tops the Egyptian market as a financing agent and a prime arranger for syndicated loans

FirstBank

The National Bank of Egypt achieved outstanding results in Q1-2023 in syndicated loans at the local and international levels, which is confirmed by the results of the quarterly assessment prepared by Bloomberg on the list of syndicated loan performance.

The list showed that NBE won the first place as the best bank in the Egyptian banking market, whether as a financing agent, a prime arranger, and a marketer of syndicated loans.

In addition to obtaining the sixth place as a financing agent and the eighth place as the main arranger for syndicated loans at the level of the Middle East and North Africa, after a number of banks and Major international financing corporates.

The bank managed 4 financing deals, which is the largest number of deals arranged, managed and marketed on Africa, with a total value of EGP 9 bn during Q1- 2023.

Hisham Okasha, Chairman of the Board of Directors of NBE, confirmed that the results of assessment are considered a testimony from an international institution, with great weight and credibility at the international level, on the bank's leadership in the field of syndicated loans in Egypt, Africa and the Middle East.

Okasha indicated that this success is a reflection of the bank's continuous keenness to provide the necessary financing needs for major projects, through  arranging, managing and marketing syndicated loan deals of creditworthy and high economic feasibility.

Okasha explained that these deals lead to an increase in added value to the Egyptian economy, in various economic sectors such as infrastructure, real estate development and building materials, which support the country's economic development, providing more job opportunities and increasing economic growth rates.

Moreover, Yehia Abou El-Fotouh, Vice Chairman of the Board of Directors of the National Bank of Egypt, is proud of the bank's continued achievement in one of the bank's vital sectors.

Aboul El-Fotouh emphasized that the bank pays great attention to syndicated loan deals, based on the strong and growing relationships that link the bank with local banks and regional and international financing corporates.

He explained that these corporates have confidence to complete and manage major deals professionally, in addition to a huge and strong capital base that allows the bank to provide the necessary financing that is in line with the needs of customers and the nature of economic activity for each project.

Sherif Riad, Corporate & Syndication Group Head · NBE, stated that this position reflects the bank's professionalism and its ability to arrange and manage syndicated loans in various economic sectors.

Riad stressed the effective  cooperation with all other Egyptian banks, which reflects the understanding, harmony and strength of the relationship between all banks in Egypt and the ability of the banking sector to provide cash liquidity to various economic sectors, which reflects the solidity of the Egyptian banking sector.

He added that this success is the culmination of the efforts made by the bank's specialists and work teams, which were professionally able to make financing deals in several economic sectors, through various and integrated financing solutions.