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NATIONAL BANK OF KUWAIT - EGYPT (S.A.E)

(NBKE)
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National Bank of Kuwait Egypt E : EBRD agrees to provide $25mn green loan package to National Bank of Kuwait Egypt

04/26/2021 | 08:51am EDT

The European Bank for Reconstruction and Development (EBRD) has agreed to provide a $21.25mn senior unsecured loan to National Bank of Kuwait Egypt (NBKE) from a total $25mn loan package to support on-lending to private sub-borrowers of green, energy efficiency and renewable energy projects, as well as to support high performance technologies and services supporting a green economy. The remaining $3.75mn is expected to be co-financed by the Green Climate Fund under the same conditions.

The loan offers a combination of longer-term financing and technical expertise in a package that promotes targeted investment in sustainable energy in Egypt’s highly diversified private sector economy.

NBKE is a commercial bank incorporated in Egypt, with total assets of €3.6bn ($4.35bn). NBKE had a market share of 0.9%, 1.4% and 1.0 % by assets, loans and deposits respectively as of year end 2020. It is 95% controlled by National Bank of Kuwait, Kuwait's largest bank with an over 30% market share as of year end 2020.

©2021 bne IntelliNews , source Magazine

Stocks mentioned in the article
ChangeLast1st jan.
NATIONAL BANK OF KUWAIT - EGYPT (S.A.E) -1.20% 12.39 End-of-day quote.70.59%
NATIONAL BANK OF KUWAIT S.A.K.P. 0.68% 0.894 End-of-day quote.11.75%
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Financials
Sales 2020 3 254 M 208 M 208 M
Net income 2020 1 444 M 92,1 M 92,1 M
Net cash 2020 449 M 28,7 M 28,7 M
P/E ratio 2020 2,80x
Yield 2020 -
Capitalization 6 195 M 394 M 395 M
EV / Sales 2019 1,25x
EV / Sales 2020 0,98x
Nbr of Employees 1 852
Free-Float 5,07%
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Last Close Price 12,39 
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Managers and Directors
Yasser Abdel Koddous Ahmed El Tayeb Vice Chairman, Chief Executive Officer & MD
Mohamed El-Kerdany Head-Islamic Finance
Shaikha Khalid Ali Al Bahr Chairman
Tarek Abou El Naga Chief Operating Officer
Khaled Serry Mahmoud Siam Independent Non-Executive Director