ICEC

NBE Finances Electricity Sector With EGP 5bln

Total syndicated loans, organized by National Bank of Egypt (NBE) for electricity sector during the period from June 1st, 2010 to Q3 of the current fiscal year, reached EGP 13.6 billion.

Sources said that the NBE’s share in the total syndicated loans of the sector reached almost EGP 5 billion; explaining that the fiscal year 2010\2011 witnessed arranging loans, their value reached EGP9 billion; as the NBE’s share reached EGP 4 billion.

Sources added that the syndicated loan, organized by the bank during last year for East Delta Electricity Co.- which subordinate to Egyptian Electricity Holding Company, reached  EGP 4.6 billion and is considered as one of the long-term loans which organized for the sector. The loan’s outcome is for financing the investment cost of the electricity sector’s ambulatory plan; it’s one of the biggest plans that the sector implements.

According to Blooomberg, National Bank of Egypt tops MENA syndicated loans league tables for 2011with market share reached 13%, in addition, it got the second position as the best main salary with a market share reached 5.5% of the Middle East and North Africa’s markets.

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