The National Bank of Egypt (NBE) received the “Best Retail Bank Award” in Africa by the Asian Banker. The leading provider of strategic intelligence on the financial services industry ranked banks and financial institutions in Africa regarding retail banking portfolio, annual growth rate, credit cards, service quality of branches, online banking services and ATMs.
The Asian Banker is an international institution that ranks retail banking portfolios of banks in Asia Pacific and Central Asia in the last 10 years, Arab Gulf region in the last two years, and Africa last year. Egypt, Nigeria, South Africa and Kenya were chosen as representatives from Africa.
Hazem Hegazy, head of branches and retail banking at NBE, received the Award after the arbitration panel’s evaluation of the size and diversification of the Bank’s retail banking portfolio that registered EGP 17 billion at the end of 2011, up from EGP 15 billion in June 2010.
NBE said in a statement that its retail credit portfolio reached EGP 11 billion from three years and attributed this noticeable increase to the application of new policies including reforming policies of personal loans and car loans and providing best credit facilities and services that meet the customers’ requirements including the credit cards that registered a market share of 32% in Egypt.
NBE was named 2011 largest bookrunner of syndicated loans with a market share of 13%. The bank was also the number-two mandated arranger by market share in the region with a 5.5% market share.
NBE was bookrunner for six deals worth a combined $2.6bn (=EGP 15.47bn) and mandated arranger for eight transactions worth an aggregate $2.2bn (=EGP13.1bn) in 2011.
The bank was the lead arranger and bookrunner of a 10-year syndicated loan with value of EGP 4.6 billion for East Delta Electricity Co. This loan covered 74% of the project’s cost that reached EGP 6.2 billion. The electricity projects will generate 1,500 MW.
This award came as recognition of the Bank’s efforts to arrange this loan at a time which coincides with the turmoil that followed last year’s revolution.
15 banks have initially pledged EGP 5.6 billion as a contribution in the syndicated loan, exceeding the maximum subscription limit by 25%. These banks are National Bank of Egypt, Banque Misr, Arab African International Bank, Commercial International Bank, Faisal Islamic Bank, BNP Paribas Egypt, Export Development Bank of Egypt, Union National Bank Egypt, Credit Agricole Egypt, United Bank, Alex Bank Intesa Sanpaolo, Blom Bank, Egyptian Gulf Bank and Al Watany Bank of Egypt.
