A consortium of leading Egyptian banks – the National Bank of Egypt (NBE), Commercial International Bank (CIB), Arab African International Bank (AAIB), Banque du Caire, Housing and Development Bank (HDB) and Emirates NBD Egypt – has granted a long-term syndicated loan worth EGP 5bn to Drive Finance, the non-banking financial services subsidiary of GB Corp. The facility aims to support Drive’s expansion plans, enhance its liquidity position and strengthen its ability to meet rising customer demand in Egypt’s rapidly evolving consumer finance market.
The seven-year syndicated loan allocates EGP 1.168bn each to NBE, CIB and AAIB, while Banque du Caire contributes EGP 695m. HDB and Emirates NBD Egypt provide EGP 400m each.
NBE acts as the initial mandated lead arranger, facility agent and marketing coordinator; CIB serves as initial mandated lead arranger, marketing coordinator and structuring bank; and AAIB participates as initial mandated lead arranger, marketing coordinator and account bank. Banque du Caire joins as a mandated lead arranger, while HDB and Emirates NBD Egypt are lenders.
Legal counsel for the lenders was provided by Matouk Bassiouny & Hennawy, with Ashraf Ehab & Co. advising Drive Finance.
NBE: Reinforcing Leadership in Syndicated Financings
Mohamed El-Etreby, Chairperson of NBE, said the facility reflects NBE’s central role in orchestrating large syndicated financings that support key sectors of the national economy. He noted that NBE’s EGP 1.169bn share reinforces its leadership in forming major financing alliances that contribute to economic development and strengthen the non-bank financial services ecosystem.
El-Etreby highlighted that the banking sector’s strong appetite for the transaction signals confidence in Drive’s operational and financial strength, as well as the importance of Egypt’s rapidly expanding consumer-finance sector. He stressed that NBE prioritises supporting companies with ambitious, sustainable expansion plans aligned with Egypt’s development goals and financial-inclusion strategy.
NBE Deputy CEO Soha El-Turky added that NBE’s involvement underscores its commitment to fostering innovation within the non-bank financial services market. She said NBE seeks to empower companies with expansion potential through financing instruments that strengthen financial inclusion and contribute to sustainable economic growth.
CIB: Supporting High-Growth Players
Amr El-Ganainy, Deputy CEO and Executive Board Member of CIB, said the bank’s participation highlights its commitment to supporting major players in the non-banking financial services sector, which plays a vital role in stimulating economic activity. He described Drive as one of the country’s largest consumer-finance firms, achieving sustained growth through a clear strategic vision and professional management.
El-Ganainy reaffirmed that CIB is dedicated to offering innovative financial solutions that help Egyptian companies grow, support economic expansion and promote sustainable development.
Omar El-Husseiny, CEO of Global Markets at CIB, added that the signing of the loan reflects CIB’s commitment to supporting leading companies in this essential sector, which contributes significantly to economic dynamism across the Egyptian market. He emphasised that the cooperation strengthens institutional relationships and aligns with Egypt’s efforts to advance the role of non-bank financial services in expanding financial inclusion.
AAIB: Expanding Support for Consumer Finance
Tamer Waheed, Deputy Chairperson and Managing Director of AAIB, said the bank’s participation reaffirms its ongoing commitment to consumer finance companies, which he described as an essential pillar supporting the banking sector. These companies, he noted, offer innovative and flexible solutions that meet diverse customer needs and support the wider objective of expanding financial inclusion.
Waheed stressed that the syndicated partnership among leading banks reflects the depth of trust between the institutions and demonstrates the banking sector’s dedication to supporting productive and service-based activities. He added that the transaction marks an important step toward enhancing cooperation among financial institutions to create a more flexible, resilient business environment capable of supporting Egypt’s sustainable development.
Banque du Caire: Strengthening a Long-Standing Partnership
Bahaa El-Shafei, Deputy CEO of Banque du Caire, said the bank’s participation reflects its strategic priority of supporting leading consumer-finance companies, which he described as vital components of Egypt’s comprehensive development plans. He highlighted Banque du Caire’s long-standing partnership with Drive Finance, noting that the bank has supported the company since its establishment due to its strong market presence, professional management and sustained growth trajectory.
El-Shafei said the consortium reflects strong confidence among the participating banks and underscores the importance of integrated financial cooperation in supporting inclusive and sustainable economic development.
HDB: Reinforcing the Role of Non-Bank Institutions
Hassan Ghanem, CEO and Managing Director of HDB, said the alliance reflects the continued commitment of the Egyptian banking sector to supporting non-bank financial institutions. He described Drive as one of the leading companies in consumer finance, particularly in auto financing, leveraging more than 15 years of experience to build strong customer trust and support a fast-growing market segment.
Ghanem emphasised the key role of the consumer-finance sector in meeting citizen needs, stimulating the economy, and promoting financial inclusion in line with Egypt’s Vision 2030.
Emirates NBD Egypt: Strengthening the Automotive Sector
Tamer Ragheb, Head of Corporate Banking and Financial Institutions at Emirates NBD Egypt, said the joint financing reflects the strong mutual trust among Egyptian banks. He noted that Drive is one of the largest consumer-finance institutions in Egypt, particularly in automotive finance — a sector he described as one of the most dynamic contributors to national economic growth.
He added that the financing will help Drive expand its services and support consumers by offering tailored credit solutions, contributing to the development of the automotive market in Egypt.
Drive Finance: Enhanced Capacity for Expansion
Ahmed Osama, Executive Managing Director of Drive Finance, said the syndicated facility reflects the banking sector’s confidence in the company’s financial performance, portfolio quality and long-term strategy. He noted that Drive is positioned for significant expansion in the automotive and consumer-finance markets, and the facility will help the company meet rising customer demand while maintaining financial flexibility.
Osama added that the loan strengthens Drive’s ability to expand financing for the automotive sector and supports new opportunities for growth. He emphasised that Drive maintains one of the lowest default rates in the Egyptian market, supported by a well-diversified, balanced portfolio across customer segments.
