Bloomberg: NBE Leads in Syndicated Loans during H1-2023

National Bank of Egypt has concluded the first half of 2023 with outstanding results in both domestic and international markets in terms of syndicated loans, according to the semi-annual assessment prepared by Bloomberg Global Institution. 

The assessment ranked National Bank of Egypt as the top bank in the Egyptian banking market for its roles as a financing arranger, lead underwriter, and documentation bank for syndicated loans.

The results also showed that the bank ranked fifth as a financing arranger and documentation bank, and seventh as a lead underwriter in Africa. Additionally, it secured the third position as a documentation bank and the tenth position as a financing arranger for syndicated loans in the Middle East and North Africa region, surpassing several major international banks and financial institutions.

The National Bank of Egypt successfully managed 12 financing deals, the highest number of arranged and managed deals in Africa, with a total value of EGP27 bn during the first half of 2023.

Commenting on these achievements, Hisham Okasha, Chairman of National Bank of Egypt, emphasized that the assessment results serve as a testament to the bank's leadership in syndicated loans in Egypt, Africa, and the Middle East. He highlighted the bank's continuous commitment to providing the necessary financing for major projects and its ability to arrange, manage, and market creditworthy and economically viable syndicated loan deals, which contribute to increasing the value added to the Egyptian economy in vital sectors such as industry, infrastructure, real estate development, construction, and building materials.

Okasha stated that this success positively contributes to supporting the country's economic development, creating more job opportunities for Egyptian youth, and increasing economic growth rates. He noted that these achievements were accomplished despite the significant challenges faced by Egypt and the world in recent periods and their impact on the Egyptian and global economies.

Yehia Abou El-Fotouh, Vice Chairman of National Bank of Egypt, expressed his pride in the bank's continued achievement of this distinguished position in a vital sector.

He emphasized the bank's meticulous handling of syndicated loan deals, relying on its strong and growing network of relationships with local and regional financial corporates that have confidence in the National Bank of Egypt's ability to successfully arrange and manage major deals with professionalism and high expertise. He also highlighted the bank's massive and robust capital base, which enables it to provide necessary financing that aligns with the needs of clients and the nature of economic activities for each project.

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

He emphasized the importance of effective and fruitful cooperation with other Egyptian banks, which also reflects the understanding, harmony, and strength of the relationship among all operating banks in Egypt, as well as the ability of the Egyptian banking sector to provide cash liquidity to various economic sectors, demonstrating the resilience of the Egyptian banking sector.

Ahmed El-Sersy, Head of the Syndicated Loans Finance Group at the National Bank of Egypt, stated that the bank's success in concluding 12 different financing deals reflects the effectiveness of syndicated loans and their ability to meet the diverse financing needs of clients and support numerous major projects across various sectors.