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Miga to back USD 313.5 mn trade finance facility for NBE
The National Bank of Egypt (NBE) is set to receive a liquidity boost for its trade finance operations via a USD 313.5 mn backing from the World Bank’s Multilateral Investment Guarantee Agency (Miga), according to a project disclosure. The backing will cover short-term, revolving trade loans provided by HSBC and Standard Chartered, protecting the lenders against the risk of non-payment by NBE.
The facility will target “strategic priority” sectors, specifically energy and agriculture, with short-term loans featuring tenors of up to one year for trade-related payments.
Why it matters: This de-risked facility is designed to maintain NBE’s access to global capital markets. By using Miga to wrap the credit risk, NBE can tap international banks like HSBC and Standard Chartered for cheaper or more reliable funding than it might get on an unsecured basis.
Incolease taps securitization market with debut EGP 2 bn issuance
International Company for Leasing (Incolease) completed its debut securitization issuance, raising EGP 2 bn as part of a broader EGP 10 bn program, according to a statement (pdf) from counsel Matouk Bassiouny & Hennawy. The transaction aims to strengthen the firm’s liquidity and diversify its funding sources, the statement read.
Advisors: Al Ahly Pharos acted as investment bank, Baker Tilly served as auditor, and Meris provided the credit rating. Participating banks included the Arab African International Bank, the National Bank of Egypt, Banque Misr, Al Baraka Bank Egypt, Saib, and Attijariwafa Bank. Matouk Bassiouny & Hennawy provided counsel.
Contact reports 2025 earnings
Contact Financial reported a net income of EGP 345 mn in 2025, according to its latest earnings release (pdf). Operating income saw a 12% y-o-y jump to EGP 2.8 bn during the year, while its top line rose 29% y-o-y to reach EGP 8.4 bn.
The firm’s financial division saw its operating income climb 12% y-o-y, reaching EGP 2.2 bn, backed by a focus on high-margin premium products and robust returns from portfolio transfer activity.
