The 4th Annual Business Tabloid Awards, conducted at Atlantis The Palm, Dubai, UAE, on the 19th of January, 2023 witnessed a wonderful gathering of global award winners from the best organizations of the world.
One of the esteemed participants, National Bank of Egypt bagged the Best Retail Bank award. Business Tabloid was proud and honored to recognize their continuous commitment to excellence and the community.
The prestigious award felicitated by H.E. Abdulaziz Ahmad, Founder & CEO, Safeer Corporate Services Provider and Member of ICC UAE, was received by Mr. Tarek El-Ghazaly General Manager of National Bank of Egypt.
NBE is the oldest commercial bank in Egypt. It was 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 stages in Egypt.
NBE has further provided a set of distinguished finance schemes that meet the needs of key economic sectors. As at the end of December 2021, the total retail loan portfolio worth EGP 159 bn., “with a market share of 26.3%”, grew by EGP 57 bn. against June 2020, with a growth rate of 56%, of which EGP 11.5 bn. were extended to 105,000 customers as part of the Central Bank of Egypt’s (CBE) initiative for mortgage finance. Retail loans continuously went up to reach EGP 188 bn. as of end-June 2022.
The banking industry faced a pandemic, regional conflicts with global effects and increasing inflation for the foreseeable future. Add to that the growing economic and humanitarian impact of climate change, and these trends separate the best banks from their rivals, and the National Bank of Egypt stands out from the crowd.
