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National Bank of Egypt (NBE) topped the Egyptian banking market

National Bank of Egypt (NBE) topped the Egyptian banking market as an administrative agent, a mandated lead arranger and a book runner of syndicated loans during the first quarter of 2019, according to Bloomberg's assessment of banks.

As a new achievement for NBE, Bloomberg's assessment of banks during the first quarter of 2019 indicated that NBE was named as the best bank in the Egyptian market as an administrative agent, a mandated lead arranger and a book runner of syndicated loans totaling EGP 15 bn., with a market share of 6.8%.

NBE was also ranked the fifth across Africa, as well as the Middle East, as an administrative agent of syndicated loans, following international institutions and banks.

Commenting on this achievement, Hisham Okasha, NBE's Chairman, confirmed that NBE financed different sectors as a continuation of the Bank's role in supporting creditworthy public and private sector projects. Being a strategic partner in financing such projects, NBE extends loans to projects that are directly or indirectly feasible for the different sectors of national economy. Okasha asserted that NBE always laid particular focus on syndicated loan deals in light of its keenness on performing its mandated role as the largest bank operating in the Egyptian market. Consequently, NBE gives attention to mega projects in vital sectors, i.e. agriculture, industry, oil, electricity, transportation, building materials, contracting, food processing and real estate development. This would create added value to the Egyptian national economy as well as many jobs to boost development.

Yehia Abo-Elftouh, NBE's Deputy Chairman, stated that this achievement was the outcome of NBE's strong relationships with local and foreign banks which have confidence in NBE's ability to complete and manage large deals in a highly professional and efficient manner. In this vein, NBE depends on a large capital base enabling it to extend substantial facilities solely or through cooperation with banking consortiums. He expressed that NBE was proud of receiving this distinguished rank among banks in Egypt, Middle East and Africa, being issued by one of the globally recognized, reliable and renowned institutions concerned with the assessment of banks and their different operations. He added that the effective and fruitful cooperation with other Egyptian banks also reflected the sound relationship among all banks operating in the banking sector.

Sherif Riad, Head of Large Corporate Finance and Syndicated Loans Group, added that NBE's success in maintaining its leadership of the Egyptian and African banking markets in terms of syndicated loans for successive years, according to Bloomberg's assessment, was mainly attributable to the professional, rapid and efficient performance of employees at NBE's relevant departments. NBE pays constant attention to the human element, considering it as its real treasure