National Bank of Egypt (NBE) has won the first place as the top bank acting as a financing agent, main arranger, and marketer of syndicated loans in the Egyptian and African banking markets, according to Bloomberg.<\/p>\n
The bank also ranked third as a financing agent and main arranger, and fourth place as a marketer of syndicated loans across the Middle East and North Africa (MENA) region.<\/p>\n
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.<\/p>\n
Hisham Okasha, Chairperson of the NBE, said that the evaluation results were a testimony from an international institution of great credibility of the bank\u2019s leadership in the field of syndicated loans in Egypt and MENA.<\/p>\n
He added that this success was a reflection of the bank\u2019s 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. This eventually supported the state\u2019s directions and plans for development in various vital economic sectors such as transportation, agriculture, industry, infrastructure, education, petrochemicals and real estate development. It also generates more jobs for Egyptian youth and increases economic growth rates. This success was achieved despite the great challenges that Egypt, and the whole world, witnessed over the past year.<\/p>\n
Yehia Aboulfotouh, Deputy Chairperson of the NBE, said that the bank always sought to provide innovative financing solutions that suit various sectors. He 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.<\/p>\n
The bank\u2019s 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\u2019s ability to complete and manage major deals. In addition, the bank\u2019s strong capital base allows it to provide the necessary funds.<\/p>\n
Sherif Riad, Corporate and Syndication CEO at the NBE, said that the new ranking reflected the bank\u2019s professionalism and its ability to arrange and manage syndicated loans in various economic sectors.<\/p>\n
He added that this success is the culmination of the efforts made by the specialists and work teams of the bank, enabling it to professionally conclude 51 deals in several economic sectors, through various financing solutions that suit the special nature of each sector and meet the needs of customers based on the studies carried out by specialists.<\/p>\n
Ahmed El-Sersy, head of the Syndicated Loans Sector at the NBE, noted that in 2021, the bank arranged several syndicated loans of different terms ranging from three to 12 years, in order to finance the various needs of several clients. These needs include financing new projects, expansions of existing companies and restructuring Credit facilities in the petrochemicals, agriculture, electricity, transportation and real estate finance sectors.<\/p>\n","protected":false},"excerpt":{"rendered":"
\u00a0National Bank of Egypt (NBE) has won the first place as the top bank acting as a financing agent, main arranger, and marketer of syndicated loans in the Egyptian and African banking markets, according to Bloomberg.<\/p>\n","protected":false},"author":4,"featured_media":323565,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22,33],"tags":[81,401],"class_list":["post-324375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","category-main","tag-national-bank-of-egypt","tag-nbe"],"yoast_head":"\n