For the fifth year in a row
Cairo: The famous magazine "International Finance" specialized in business and finance institutions around the world awarded Emirates NBD - Egypt the “Fastest Growing Corporate Bank” award for 2021. The International Finance Award recognizes international industry talent, leadership skills, industry net worth and capability. This award comes after five consecutive years of awards and international recognitions of the great leaps the bank has achieved which contributed to enhance financial flows, new banking services that support digital transformation and overall investment in Egypt.
Emirates NBD – Egypt joined the banks syndication loan with “Ora Developers Egypt” to secure EGP 2.54 billion loan to finance the construction of the new ‘ZED’ project in Sheikh Zayed. ‘ZED’ Sheikh Zayed is a new multipurpose integrated project, consisting of 6 phases that will include 4,500 fully finished residential units, in addition to commercial and administrative spaces.
The bank also contributed to the top-up of tranche "C" granted to "The International Co. for Multiple Oils Extraction" with a total amount of EGP 200 million. The syndication was arranged by 7 banks where tranche "C" reached EGP 3 billion, and the participation of Emirates NBD -Egypt is estimated at 7% of the total value of the loan, as financing this tranche will be used to complete some construction work in the factory and purchase the raw materials needed for the production crude and refined oils.
Recently, the bank provided a loan of EGP 2 billion to a consortium of 4 companies: “The Arab Contractors”, “Orascom Construction”, “Hassan Allam Construction”, and “Metito Water Treatment Group” to build the largest agricultural drainage treatment plant in El Hammam at the North Coast. The new plant will be used to irrigate half a million feddans of reclaimed land in West Delta with a capacity of 6 million cubic meters per day. The project also includes the construction of a 120 km water corridor to transport agricultural drainage water from the Delta governorates to the treatment plant in El Hammam. The bank’s participation in this project is in line with the state’s national plans to enhance development for the benefit of the overall economy in Egypt.
Emirates NBD - Egypt also offers its clients a variety of products and services, in addition to supporting small and medium sized businesses as well as large and multinational corporations. In December 2020, Emirates NBD - Egypt achieved an increase in their corporate portfolio by 9% in comparison to the previous year.
“Over the past years, we were eager to create chances, opportunities and contributions towards our customers, employees and the society,” said Mohamed Berro, CEO of Emirates NBD – Egypt. “We are aware of the essential role the bank plays in driving the economy and are keen to continuously develop our services and offerings in line with the global changes and the needs of our customers. All these plans and joint efforts contributed to cementing our position as one of the top banks in the last five years, "added Berro.
It is worth noting that last year, "International Finance" magazine awarded Emirates NBD - Egypt two awards for the “Most Innovative Bank in trade finance and cash management”. In 2019, the bank has been awarded with the “Best Digital Bank” in Egypt and the “Best Mobile Banking Application” in 2018, for its excellence in providing innovative and modern banking services in the market.
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