From a melt-up in stocks to a near meltdown, few will have fond memories of 2018
National Bank of Egypt (NBE) awarded Best Transaction and Best Trade Finance Bank in Egypt for 2018
Dubai, November 29th 2018- National Bank of Egypt received the award for Best Transaction and Best Trade Finance Bank at The Asian Banker MEA Risk and Transaction Awards 2018. The award ceremony was held in conjunction with the International Finance Dialogue, at Conrad, Dubai.
- National Bank of Egypt robustly expansion its transaction services
- NBE developed new products and services to cater to evolving corporate needs of Egyptian corporates
- NBE’s technology enhancements for the betterment of national economy
The MEA Risk and Transaction Awards Programme is designed to identify emerging best practices and outstanding achievements of the best-run risk management teams and evaluate their achievements in cash management, payments, and trade finance business. Taking on an audit-based approach from 2018, the recipients of these awards were determined through a combination of surveys, interviews and field research by The Asian Banker’s research staff.
Standing from left: Foo Boon Ping; Managing Editor; The Asian Banker, Gordian Gaeta and David Gyori; Members of the International Advisory Council of the MEA Risk and Transaction Awards Programme with Amr Abdel Gawad; Head of Documentary Collection and Khalled Taha, Head of Operations; National Bank of Egypt
National Bank of Egypt (NBE) robustly expansion its transaction services
Operating an active syndicated loans segment, NBE’s SME loan portfolio grew 45% in June 2017 on a year-on-year basis, serving 11,000 customers with a view to expand financing to craftsmen and SME entrepreneurs in the Egyptian market. Asset quality of loans also improved on the back of declining NPLs to total loans, which fell 2.1% from 2.3%. The bank leveraged its mix of value-added services by offering tailor made syndicate loan products for its trade business. Sustaining 32% contribution from trade business to overall business income, the bank’s overall trade finance outstanding reached USD 21 billion.
NBE developed new products and services to cater to evolving corporate needs of Egyptian corporates
In addition to the certificates previously issued in USD and Euro, NBE offered Belady Certificate in Australian Dollar to meet the needs of Egyptian customers internationally. The Bank made foray into the new customer segment of Egyptian expatriates. It also introduced a prepaid card product which enables customers to receive foreign transfers. The bank strategically banks state owned corporates from oil and gas, construction and electricity sectors and delivered huge mandates in interest of national economic development in 2017.
NBE’s technology enhancements for the betterment of national economy
To best serve its customers and national economy, NBE launched a new automated service package to provide seamless transaction experience to customers. AI Ahly Net service, the new online banking service, was also activated for retail and corporate clients to allow instant transfers and make enquiry on all account types. Recognising network of correspondents and competitive pricing as its competitive advantages, NBE identified blockchain technology as the evolving key themes and best practices in trade finance and supply trade finance.
At the awards ceremony, Emirates NBD was named the Transaction Bank in MEA. Other winning institutions include Egypt’s National Bank of Egypt, South Africa’s ABSA Bank, Qatar’s Commercial Bank, Barclays Bank Mauritius among others.
About The Asian Banker
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The company is headquartered in Singapore, with offices in Manila, Malaysia, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services, and forums.
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For more information please contact:
Mr. Foo Boon Ping
Managing Editor
Tel: (+65) 6236 6526
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