National Bank of Egypt bets on giant national projects

The capital base of Egypt’s biggest public lender, National Bank of Egypt (NBE) currently exceeds 32 billion Egyptian pounds ($3.6 billion) that will help pump major finances into more national projects.

The bank enjoys substantial capital base that allows securing major finances whether solely or through entering into banking consortia in the coming period, said NBE’s vice chairman Mahmoud Montasser in a statement on Monday.

NBE is interested in financing giant projects in Egypt’s energy, building materials, construction, food, property development, tourism, and transport sectors, since they create an added value to the country’s national economy and provide more job opportunities, Montasser added.