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NBE arranged 10 syndicated loans worth EGP 50bn in 2016 - Daily News Egypt

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NBE arranged 10 syndicated loans worth EGP 50bn in 2016

NBE occupied the first position in the Egyptian market, and the third position in Africa, according to Bloomberg 


The National Bank of Egypt (NBE) arranged and managed 10 syndicated loans at a total value of EGP 50bn during 2016, according to NBE deputy chairperson Mahmoud Montasser.

Montasser said that the NBE participated with EGP 14bn, or 28% of the total value, and he pointed out that the bank owns a capital base of more than EGP 70bn.

According to Amr El-Shafei, head of corporate banking, loans, and syndication at the NBE, the syndicated loans arranged by the bank during 2016 were directed to many economic sectors such as electricity, petroleum, construction, real estate development, communications, and construction materials.

The annual evaluation prepared by the international foundation Bloomberg for banks during 2016 has revealed that the NBE occupied the first position as the best bank in the Egyptian banking market in the field of syndicated loans, which the bank has managed as a financing agent.

The evaluation also showed that the bank occupied the third position across all Middle East and North Africa banks, and occupied the third place on the African continent following Citibank and Bank of America Merrill Lynch, which occupied the first and the second positions respectively.

According to Montasser, the NBE’s advanced positions in the Bloomberg list was a result of the excellent relations linking the bank to local and foreign banks. This increases the bank’s ability to arrange syndicated loans at huge values that keep pace with the size of the funds required for major projects.

Thus, the bank occupied the first position in the Egyptian banking market, and the third position in the African banking market by a share of 13.2% of the total syndicated loans in 2016, compared to 4.37% in 2014 and 11.7% in 2015. The bank also occupied the third position on the Middle East and North Africa banking market by a market share of 7.7% in 2016, compared to 2.4% in 2014 and 6.7% in 2015.

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https://wwww.dailynewssegypt.com/2017/01/29/nbe-arranged-10-syndicated-loans-worth-egp-50bn-2016/
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