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Egypt: NBK- Egypt joins a banking alliance consisting of 10 banks in arranging a EGP 12.3 billion syndicated loan

08.09.2021

In line with its leading role towards promoting economic growth, National Bank of Kuwait - Egypt joined ten banks in arranging an EGP 12.3 billion medium-term syndicated loan for Gharabli Integrated Engineering Company (GIECO), a leading EPC Contractor with successfully completed industrial and civil projects all around Egypt. The facility is directed towards financing a portion of the operation undertaken by the company to fulfill a mandate assigned by the Egyptian Navy Forces to implement the northern and southern expansions of Abu Qir Port and the development of the new Abu Qir Port, at a total value of EGP 19.06 billion.

Eleven banks participated in arranging the facility including: National Bank of Egypt, Banque Misr, Commercial International Bank of Egypt, National Bank of Kuwait - Egypt, Credit Agricole - Egypt, Banque du Caire, Export Development Bank, Bank of Alexandria, Suez Canal Bank, The United Bank of Egypt, and Arab investment Bank.

The signing ceremony took place on Wednesday, September 1, 2021, at the Conrad Cairo Hotel. The agreement was signed by Mr. Amr El-Alfy – Senior General Manager - Head of Business Group at NBK- Egypt. Among attendees were Mr. Ahmed Al-Shall - General Manager, Head of Large Corporate & Syndication at NBK-Egypt, Ms. Abeer Al-Sharif - Executive Director, Large Corporate & Syndication at NBK-Egypt, and Mr. Amir Ismail - Senior Manager, Large Corporate & Syndication at NBK-Egypt.

On this occasion, Mr. Yasser El-Tayeb, Vice-Chairman, CEO and Managing Director, NBK - Egypt said that the bank’s participation in financing such a mega project is in line with its strategy geared towards supporting the Egyptian government’s plans to finance major developmental projects.  He also highlighted that port development is considered one of the most prominent projects that contribute to boosting foreign trade, supports GDP and promotes economic recovery. In general, ports play a vital role in the country’s development, supporting its economy and national security.

The successful participation of a number of leading banks in arranging a credit facility of that size - the largest syndicated loan this year – including all preliminary arrangements and coordination between all participating parties is a testimony to the strength of the Egyptian banking sector and the synergy between its banking units. It also reflects the sectors eagerness and ability to finance and support all major national projects to support Egypt’s developmental plans, putting the country back on the road to economic prosperity, increasing employment opportunities, and playing a role towards achieving Egypt’s Vision 2030.

 

Meanwhile, Mr. Amr El-Alfi stated that NBK - Egypt has adopted a clear strategy for several years to support and finance megaprojects, infrastructure projects and sustainable development, which supports the country in realizing its future plans and achieve progress and prosperity for all segments of the Egyptian society. “Our bank’s participation in arranging this facility along with a number of our peers is a reflection of our strategy due to the great economic feasibility of this vital project, in addition to its vital contribution to the country's foreign trade and in establishing its leading position as a prominent player in the Mediterranean logistics platforms”. Mr. El-Alfi said.

Mr. Ahmed Al-Shall commented that NBK – Egypt played a key role in the arrangement of this credit facility, participating with EGP 1 billion in line with its leading role as a major player in the financing filed. This reflects the bank’s strength, its extensive ability and financial solvency that enables it to finance various projects, individually or jointly with the cooperation of other associated banks, in addition to affirming the bank's confidence in the relevance of this project and the key role played by the company in charge of its execution as one of the country’s most prominent contracting companies.

NBK-Egypt has a wide network of 52 branches spread over premium locations in various Egyptian governorates and cities including: Cairo, Giza, Alexandria, Delta, Sinai, Red Sea and Upper Egypt, in addition to the industrial zones in 6th of October and 10th of Ramadan cities. The bank is also privileged to be among the elite banks within the Egyptian market that hold an Islamic banking license in addition to its conventional licensing. It has two Islamic branches. Moreover, NBK-Egypt has a wide network of ATMs spread across the country to service the bank’s clients around the clock. 



Egypt: NBK- Egypt inks a deal with Elswedey Electric Foundation to support vocational training

19.08.2021

Under the umbrella of its Corporate Social Responsibility (CSR) activities, the National Bank of Kuwait- Egypt (NBK-Egypt) signed a Memorandum of Understanding (MoU) with Elswedey Electric Foundation. Under the agreement, the bank offers scholarships to students of Swedey Technical Academy (STA), which grants students 3-year high school diploma accredited from the Ministry of Education and Technical Education and from Omnia Education Partnerships, a Finnish Institute specialized in technical and vocational education and training (TVET).

The MOU was signed by Mr. Yasser El-Tayeb, Vice Chairman, CEO & Managing Director on behalf of NBK-Egypt, while Engineer / Ahmed Swedey on behalf Elswedey Electric Foundation. In the presence of Mr. Amr El-Alfy - Head of Business Group at NBK-Egypt  Mrs. Rania Afifi - Head of Strategy, Planning & Transformation/ CSR/ Investments and Mrs. / Noran Ali, Secretary of NBK-Egypt’s CSR Committee, in addition to a number of Executive members from NBK-Egypt. In the presence of Mr. Sherif El-Zeiny – Group CFO at El-Sewedy Electric Company, Mrs. Hanan El-Rihany - Secretary General and CEO of Sewedy Technical Academy (STA), and Mr. Walaa Antar - Treasurer of Elsewedy Electric Foundation. 

On this occasion, Mr. Yasser El-Tayeb stated that NBK-Egypt commitment to this cooperation sets from NBK-Egypt’s CSR role and its keenness to carry out its role in serving the development of its community through directing its contributions to trust-worthy organization, which includes Elswedey Electric Foundation.

Mr. Yasser El-Tayeb also highlighted that NBK-Egypt is committed to supporting educational initiatives that links education with employability by investing in upgrading the skill set of Egyptian Youth. These efforts comes in line with the Government of Egypt (GoE)’s efforts to achieve Egypt’s Vision 2030 in the field of education, which is in line with the fourth goal of the United Nations Sustainable Development Goals (SDGs) with regard to education, which includes the development of technical education and vocational training among its main mechanism.

Eng. Ahmed El Sewedy stated that El Sewedy Electric Foundation is committed to develop technical education and vocational training in Egypt through its educational arm, Sewedy Technical Academy (STA). The academy offers training that aims to refine the skills of Egyptian technicians to equip them for the labor market. This is done through an established alliance with the Ministry of Education and Technical Education and a number of international and local bodies and companies and by offering latest and specialized curricula in the field of technical education. This aims to assistance the Government of Egypt (GoE) in achieving the goals of Egypt 2030 Vision, through the development of technical education which plays a pivotal role in developing the Egyptian economy.



Egypt: NBK-Egypt Wins the BT100 Award for 2020

20.04.2021

National Bank of Kuwait - Egypt (NBK- Egypt) received the BT100 Award as  "Best bank providing digital Ecosystem” for 2020, during the ceremony hosted, for the fourth year in a row, by Business Today Magazine, one of the powerful media arms of Egyptian Media Group (EMG) in cooperation with POD Egypt, the leading public relations and media company as well as Youm7 media institution, to honor the 100 key influential entities and individuals in Egypt for 2020 under the patronage of HE Dr. Mostafa Madbouly – the Prime Minister.

The event was held on Tuesday, 30 March 2021, at the Nile Ritz-Carlton Hotel in the presence of a large number of ministers, senior officials, businessmen and executives of banks and companies operating in the Egyptian market, as well as a group of public figures and community celebrities.

The ceremony, themed “The Year of Inspiration” this year, was attended from NBK-Egypt’s side by Mr. Yasser El-Tayeb, NBK - Egypt Vice Chairman, Managing Director & CEO, Mr. Amr El Alfy, Head of Business Group at NBK – Egypt, Mrs. Salma Abou Hussein, Head of Consumer Banking at NBK-Egypt, and a number of the bank’s top management team.

The award winners are selected according to market studies based on the criteria for evaluating the performance of companies operating in the various sectors of the market, through a panel of economic experts and researchers.

The award presented to the bank was received by Mr. Amr El Alfy on behalf of Mr. Yasser El-Tayeb.

On this occasion, Mr. Yasser El-Tayeb said that honoring the bank in this ceremony and presenting it the award of "Best bank providing digital Ecosystem” for 2020 come in recognition of its instrumental role as one of the key players in the Egyptian economy, and in appreciation of its support for the digital transformation system, whether inside or outside the bank during 2020, in light of the COVID-19 crisis, which negatively impacted all economic sectors, not only in Egypt but worldwide. However, this crisis and the resulting repercussions gave the best testament to the readiness of the Egyptian economy and its economic institutions and their ability to overcome all challenges and aptly weather crises. This was clearly seen in NBK-Egypt’s financial indicators and business results for 2020, which showed its resilience to all the challenges caused by the COVID-19 crisis, by continuing to achieve good performance ratios, and remaining one of the top banks continuing effective steps towards transition to a digital economy, which has become a more pressing need after the COVID-19 pandemic.

Over the recent past years, the bank adopted a clear strategy promoting digital transformation projects, whether inside or outside the bank, in line with the directions of the government and the Central Bank of Egypt for transformation into a society less dependent on cash and evolving into a digital economy, being one of the goals of the sustainable development strategy embedded in Egypt Vision 2030, the path on which the bank has taken remarkable steps over the recent past years,” added El-Tayeb.

On his part, Mr. Amr El Alfy said: “NBK - Egypt was one of the first banks operating in Egypt to embrace digital transformation projects, stemming from the belief in the key role of technological solutions and alternative channels in the banking sector, and realizing their importance to enhance the competitive advantage over other banks, and to establish “the one bank concept” for customers, especially, as we strive to acquire a larger share of the Egyptian market, both in corporate and retail sectors, in the coming period.”

El Alfy added that the bank’s corporate customers had an important share of the bank’s digital services, as the bank launched "NBK Online Corporate Banking", which enables them to easily and securely manage the business activities and banking transactions of their companies online, without the need to visit the branches, by following simple steps to view the company's accounts and balances and manage them in an easy and secure manner.
From her side, Mrs. Salma Abou Hussein expressed her pleasure with the bank’s winning of the award, which shows the appreciation of the awarding entity for the effective role played by NBK- Egypt in the areas of digital transformation and digital banking, which the bank has been keen to adopt since a while by launching “NBK -Egypt Online Banking” enabling customers to make a variety of banking transactions in a simple and secure way, without the need to visit the branch for every transaction. The bank also launched “NBK Mobile Banking App” allowing customers to avail various banking services that became at their fingertips, anytime, anywhere.

The bank also launched its e-Wallet, offering customers a unique banking experience in terms of convenience and security.”
Abou Hussein pointed out that the bank also recently launched “Meeza” Prepaid Card, which is a new addition to NBK-Egypt’s array of cards, making the bank a main operator in the Egyptian market offering the smart payment card bearing the logo of Electronic Payment Network "Meeza", which is used by companies to pay employees’ salaries.

As a culmination of the bank's digital banking services, we have recently launched the digital transformation system for Heliopolis Sporting Club using HSC smart card, enabling the club members, at both Heliopolis and El Shorouk City branches, to enjoy various features and services inside and outside the club, as the membership card was revamped to double as an e-payment card, offering a locally unique experience based on cutting-edge technology that combine more than one use in one card, she added.

It is worth mentioning that NBK-Egypt has a network of 53 branches with strategic locations across the different governorates and cities of Egypt including Cairo, Giza, Alexandria, Delta, Sinai, Red Sea, Upper Egypt, and the industrial areas in the 6th of October and the 10th of Ramadan Cities. The bank is also privileged to be among the banks providing Islamic banking products, in addition to conventional products, through its dedicated Islamic banking branches. The bank also has a large network of ATMs across key locations of the country to service the bank’s customers around the clock.



Egypt: NBK-Egypt Launches Smart Membership Card for Heliopolis Sporting Club

22.03.2021

As part of the strategic partnership and close cooperation between National Bank of Kuwait - Egypt (NBK-Egypt) and Heliopolis Sporting Club (HSC), and to give effect to the cooperation protocol and the framework agreement signed between them for supporting and optimizing "Heliopolis Smart Digital Club", the bank launched a smart membership card for HSC members of both branches in Heliopolis and El Shorouk City.

The new card will enable members to benefit from many features and services inside and outside the club, as the HSC Membership Card has become a smart payment card, offering a unique experience locally, using cutting-edge technology to integrate more than one application in one card.

The launch of this card was announced in a ceremony held at HSC in Heliopolis Area on Thursday, 11th of March, which was attended by Mr. Amr El-Sonbaty - Chairman of the Board of Directors at HSC, and a group of board members and executives. From NBK – Egypt’ side, the ceremony was attended by Mr. Amr El Alfy, Head of Business Group at NBK – Egypt, and Mrs. Salma Abou Hussein, Head of Consumer Banking at NBK-Egypt, and a large number of the bank’s top and executive management team.

On this occasion, Mr. Yasser El-Tayeb, NBK - Egypt Vice Chairman, Managing Director & CEO said: “This cooperation between NBK - Egypt and HSC serves the bank’s strategy to support digital transformation projects, inside or outside the bank, which comes in line with the directions of the government and the Central Bank of Egypt for transforming into a society less dependent on cash and moving towards a digital economy, being one of the strategic objectives of sustainable development, in accordance with Egypt's Vision 2030, the path on which the bank has taken remarkable steps over the recent past years.”

On his part, Mr. Amr El Alfy, Head of Business Group at NBK – Egypt said: “The bank’s launch of this smart card for HSC members represents a new step in a series of cutting- edge digital products and services provided by the bank to its customers from all segments.

This stems from the belief in the key role of digital solutions and alternative channels in the banking sector, and the understanding of their importance to enhance the competitive edge over other banks, and to establish “the one bank concept” for customers, especially, as we strive to acquire a larger share of the Egyptian market in the coming period.”

El Alfy added that in addition to its financial support for this project, the bank participated in supervising its implementation using its expertise in the areas of electronic payment and smart cards, and being the bank of payments for the smart system of those cards, including the various banking transactions associated with it.

This was done by embedding a smart chip to the membership cards which enables HSC members not only access at the club’s new electronic gates and parking spaces, but will also double as a prepaid card to be recharged and used to make various purchases and payments.”

Commenting on launching the card, Mrs. Salma Abou Hussein, Head of Consumer Banking at NBK-Egypt said: “The launch of HSC Smart Card, in cooperation with our bank, is a milestone in the bank’s digital products and advanced payment solutions, which the bank has been keen to adopt since some time by launching “NBK - Egypt Online Banking”, then “NBK – Egypt Mobile Banking App”, allowing our customers to make a variety of banking transactions in a simple and secure way, without the need to visit the branch for every transaction. Additionally, the bank launched e-Wallet, which enables customers to make transfers and various bill payments directly from their mobile phones in an easy and secure way. As a culmination of the bank’s digital services, the bank recently launched “Meeza” Prepaid Card, which allows customers to enjoy a unique banking experience.”

Abou Hussein added that the new HSC Membership Card is a co-branded card that is used as a membership card, and, in addition, doubles as a prepaid card that can be used to make various purchases and bill payments inside or outside the club. It can also be used to pay for subscriptions to various sporting activities inside the club, as well as to make online payments, making it easier for members to use one card for all their daily transactions and needs. Members can activate the card and recharge it at the bank’s branch inside HSC, after filling in the documents and updating customer's information on Content Management System. The new card will be distributed to the members by HSC management as a replacement for the current plastic card.