National Bank of Egypt.

About US

National Bank of Egypt (NBE) is the oldest commercial bank in Egypt. It had been established on June 25, 1898 with a capital of £ 1 million. Throughout its long history, NBE's functions and roles have continually developed to square with the different economic and political phases in Egypt.
During the 1950s, NBE assumed the central bank's duties. After its nationalization in the 1960s, it acted as a pure commercial bank besides carrying out the functions of the central bank in the areas where the latter had no branches. Moreover, since mid-1960s, NBE has been in charge of issuing and managing saving certificates on behalf of the government.
The Bank, during the fiscal year 2009-10, managed to achieve positive performance indicators. The Bank's total assets in June 2010 recorded EGP 299 billion, growing 15.3% vis-à-vis June 2009. Total deposits reached EGP 245 billion, increasing by 11.8% compared to the previous year. Such leap was made thanks to a diversified package of saving pools in local and foreign currencies at competitively attractive rates. The net cumulative balance of NBE's saving certificates, the largest household saving pool in Egypt, rose in June 2010 to EGP 90.9 billion, up by 11.8% in comparison to June 2009.
Moreover, the Bank provided a number of enticing funding programmes to meet the needs of major economic sectors. New loans of EGP 19 billion were granted, in cooperation with the government and the private sector.
By virtue of the above-mentioned achievements, NBE maintained a larger market share as at June 2010. That included 24.5% of total assets, 27.4% of total deposits and 21.6% of total loans, in the entire banking system.
By the end of June 2010, NBE held equity participation in 186 projects covering all the fields of economic activity. The Bank's holdings amounted to EGP 13.1 billion – i.e. 29% of such projects' total capital that accounts for EGP 44.9 billion.
Net operating revenues (before provisions and taxes) accounted for EGP 8.6 billion, hovering at 34.4% compared to the previous year. Further, net interest income was higher by EGP 2 billion to reach EGP 5.5 billion.
NBE succeeded in leading the market in the field of syndicated loans. As a result, Bloomberg Loan Syndications rankings for MENA region ranked NBE the 2nd in the field of arranging, marketing and underwriting syndicated loans.
The Bank also assumed a catalytic role in a number of economic projects as it established the following companies: Al-Ahly Co. for Land Reclamation & Cultivation; Nile Holding Co. for Development & Investment; Egyptian Co. for Real Estate Management & Investment; Upper Egypt Co. for Foods; Upper Egypt Co. for Mutual Funds; Al-Ahly Co. for Medical Projects & Services; Al-Ahly Financial Leasing. NBE acquired one company, namely Tawfik Co. for Housing Finance.
Several credit and saving products were introduced by the Bank, including the re-launch of housing finance, auto loans, a new five-year certificate and upfront interest certificate in foreign currency.
The infrastructure of both the IT area and ATM/P.O.S. has been developed and upgraded. More than 1,300 ATMs have been installed nationwide to deliver outstanding services.
Al-Ahly Phone service, which provides 24h/7days a week support for NBE's customers, was lunched. About 100,000 phone-based inquiries are handled per month, in addition to introducing the Interactive Voice Response service (IVR).
In addition, NBE introduced its new internet banking service "Al-Ahly Net". Customers can now make online enquiries about their different accounts (current, saving, deposit & loan accounts) as well as investment certificates, saving pools and credit cards. They can also have printouts of their accounts' and cards' statements via NBE's website.
It is worth mentioning that NBE issued international bonds with the sum of US$ 600 million, with a view to hedging against world markets upheavals. The bonds were received with an overwhelming demand from international institutions and funds, with substantial coverage rates, which indicates great confidence in such offering.
In line with its role in supporting state policies, NBE provided direct funding for the government by purchasing T-bills and government bonds, with a total amount of EGP 66.8 billion as at June 2010. The Bank thus seized the largest share in the primary market of T-bills and government bonds as well as the biggest trading volume in the secondary market.
To strengthen and boost stock investments and securities market, the Bank created a number of unrivalled mutual funds that support the Egyptian capital market and deliver services to a distinguished segment of customers. Additional investment products were available through wider custodian and trading services.
In continuation of its salient role in stabilizing the foreign exchange market, NBE carried out foreign-exchange transactions with the amount of EGP 6.5 billion as at June 2010 vis-à-vis EGP 4.5 billion as at June 2009. Moreover, the Bank issued and opened documentary credits and letters of guarantees representing some 37% of Egypt's foreign trade.
NBE has been keen to support and enhance its human resources by equipping them with new diversified skills via a set of advanced training programmes in Egypt and abroad in collaboration with world financial institutions. The Bank managed to court qualified staff, i.e. the best of the best, as well as highly experienced bankers in key positions.
According to July 2010 issue of The Banker, NBE ranked the 237th worldwide in terms of total assets, ahead of all Egyptian banks, and in the 8th place among Arab banks.
This excellent performance was commended by international rating agencies. Standard and Poor's granted the Bank the same rating assigned to the Egyptian economy – i.e. (BB+) for foreign-currency long-term commitments and (B) for foreign-currency short-term commitments.
Such strenuous efforts were crowned by the "Best Bank in Egypt – 2010" award by The Banker and the "Best Power Deal in Africa" by the specialized emeafinance magazine.
Service provision in the Bank is backed by an extensive network of 419 banking units all over Egypt. To this may be added NBE's effective international presence through the National Bank of Egypt (UK) Limited, New York and Shanghai branches plus representative offices in Johannesburg – South Africa, Dubai – UAE and Addis Ababa – Ethiopia. This is in addition to a vast correspondent network around the globe, mainly in Europe, Egypt's premier trade partner.
NBE is always keen to render up-to-date banking services and products that are perfectly developed for its esteemed customers. Thus, it can preserve their precious confidence and maintain its leadership in the local banking market.
Mission & Vision

To be the leading financial institution in Egypt, delivering outstanding services to our clients and promoting an enriching working experience for our employees, while ensuring superior returns to our shareholders and promoting the development of the Egyptian community
Building a robust organization structure, investing in infrastructure and human assets and providing different financing schemes to various economic sectors, although the deterioration in Egyptian's economy since the revolution of 25th of January
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