NBE Tops banks on First Bank credit competitiveness index

The National Bank of Egypt (NBE) topped banks on First Bank's Credit Competitiveness Index in Egypt last year, after its total loans and facilities rose to EGP 2.29 tn by the end of December 2023, compared to EGP 1.73 tn by the end of December 2022 with a growth of EGP 559 bn.

The significant growth was due to the expansion of NBE in granting corporate loans, until the portfolio of corporate loans reached about EGP 2.1 tn by the end of 2023.

NBE pays great importance to syndicated loans, based on its strong and growing network of relationships with local banks and regional and international finance corporates that have confidence in NBE's ability to complete and manage major deals with high professionalism.

Over the past year, the Bank has managed 28 financing deals, recording the largest number of deals managed and marketed on the continent of Africa, with a total value of EGP 322.5 bn in a year 2023.

Considerable attention was also paid to retail loans, with the retail loans portfolio jumping to about EGP 300 bn by the end of 2023, compared to EGP 227 bn by the end of 2022.

The significant leap in retail loans is due to the bank's arming with a robust, multi-axis strategy, based on establishing the concept of financial inclusion of individuals as one of the key pillars of economic and social development.

In addition to expanding the digital and electronic transformation of the banking system by automating banking and making electronic products and services available in the simplest procedures through many alternative channels such as mobile banking and others and supporting all the initiatives of the Central Bank of Egypt, in particular the Mortgage Finance Initiative for Low & Middle Income to provide adequate housing at the lowest possible cost to those categories of customers and the Initiative to replace obsolete vehicles with new natural gas. To view the full list. Click More