National Bank of Egypt aims for 30% growth in 2023

Egypt’s largest state-run lender, National Bank of Egypt (NBE) is aiming for growth of 30 percent in 2023, its vice chairman said on Wednesday.

“The NBE is aiming for growth of 30 percent in terms of lending portfolio, deposits, and saving pools within 2023,” Yehia Aboul Fotouh told Amwal Al Ghad.

The bank is currently studying arranging a number of syndicated loans designed to support giant national projects, Aboul Fotouh said, without disclosing any further details about the size of these loans.

“We are expecting to sign the (loan) deals within 2023,” he added, saying the bank’s portfolio of syndicated loans had exceeded 100 billion Egyptian pounds ($4 billion).

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