NSGB has been named "Best Bank in Egypt" by pre-eminent
international finance magazine Euromoney. The award was
presented during Euromoney Middle East Awards for
Excellence Dinner in Dubai.
In recognising NSGB for the award of "Best Bank in Egypt"
Euromoney Editor Clive Horwood highlighted how "Despite the
turmoil seen in the country over the last year NSGB has
managed to post favourable financials, with increases to
net income and deposits, along with a reduced NPL ratio.
Net income grew by 11%, deposits by 3% and the NPL ratio
shrank by 0.4% - impressive numbers considering the
conditions that the bank was operating under."
Mohamed El-Dib, NSGB Chairman & Managing Director stated
that "This award reflects the trust of our clients and
is the result of the prudent & firm strategy adopted and
followed by the Bank in steps throughout the year. It is
the great effort & dedication of all employees that
qualified NSGB to win this well-deserved prize." He also
clarified that "Despite the difficult circumstances that
our country are facing currently, we had succeeded, with
the strong support of SG Group, in strengthening our
organization and deceloping our banking products and
services offered to our clients. In addition, we focused on
Retail Banking and small and medium enterprise that
contributed in an effective way on our growth and
profitability."
Regarded as the benchmark awards for financial services
globally, the Euromoney Awards for Excellence are now in
their 22nd consecutive year. This year's awards process,
which began in April, attracted over 600 submissions from
the world's banks and brokerage houses. Euromoney's
dedicated research team and awards panel then rated all the
submissions on both quantitative and qualitative factors
such as KPIs, financial ratios and innovation over the 12
month period to decide the award winners.
Notes to Editors:
Euromoney Magazine is the flagship title of London based
financial communications company Euromoney Instituional
Investor PLC. Founded in 1969 by Sir Patrick Sergeant,
Euromoney Magazine is the voice of the international
capital markets and for over 40 years has offered
unparalleled coverage of the global bond, equity and
foreign exchange markets Euromoney Institutional Investor
PLC is a constituent of the FTSE-250 index and is listed on
the London and Luxembourg Stock Exchanges.
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