NBE executes six financing agreements totaling EGP 18.8bn in Q1 2024

Hossam Mounir
3 Min Read

The National Bank of Egypt (NBE) successfully managed, coordinated, and promoted six financing agreements valued at EGP 18.8bn in the first quarter (Q1) of 2024.

Bloomberg International’s quarterly syndicated loan performance assessment indicates that NBE secured the top position in the Egyptian market across multiple roles in syndicated loan arrangements, including acting as a financing agent, principal arranger, documentation bank, and loan promoter. The bank also achieved second place as a finance agent and principal arranger, fifth in loan marketing, sixth as a principal arranger in Africa, first as a documentation bank, and fourth as a financing agent within the Middle East and North Africa region.

Hisham Okasha, NBE’s Chairperson, remarked that the evaluation serves as an endorsement from a distinguished global entity. He emphasized that the bank’s success mirrors its dedication to meeting the financing requirements of significant projects, orchestrating deals that are both creditworthy and economically viable, thereby enhancing the Egyptian economy’s value.

Okasha also noted that NBE attained this remarkable success amidst substantial global and national challenges.

Yehia Abou El-Fotouh, NBE’s Deputy Chairperson, highlighted the bank’s focus on syndicated loan transactions, leveraging its robust network with domestic, regional, and international financial institutions that trust NBE’s deal completion and management capabilities.

He underscored that these achievements motivate the staff to continue their efforts in supporting key projects and sustaining the bank’s leadership.

Sherif Riad, NBE’s CEO of Corporate Banking Credit and Syndicated Loans, stated that the bank’s rankings demonstrate its expertise in structuring and overseeing syndicated loans across different economic sectors. He underlined the significance of productive collaboration with other Egyptian banks, reflecting the synergy and robust relationships among the nation’s banking entities, as well as the sector’s capacity to supply liquidity to diverse economic areas.

Riad further mentioned that this triumph is a testament to the collective efforts of the bank’s specialists and teams, showcasing their proficiency in finalizing financing transactions across various economic sectors with comprehensive financial solutions.

Ahmed El-Sersi, head of NBE’s Syndicated Loan Financing, expressed that the bank’s ability to finalize numerous financing transactions in different sectors showcases the efficacy of syndicated loans in satisfying the varied financing demands of clients and supporting a multitude of significant projects across several industries.

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