Best bank - Commercial International Bank
Best local partner - National Société Générale Bank
Best debt house - Citigroup
Best equity house - EFG-Hermes
Best M&A house - EFG-Hermes
Commercial International Bank has maintained its standing as the pre-eminent corporate bank in Egypt. While the four dominant state banks are still creaking under the weight of massive non-performing loans and many corporates are burdened by the poor state of the economy, CIB has managed to maintain a sound balance sheet. Despite increased competition from the foreign and joint-venture banks, CIB is still widely regarded by both foreign and domestic corporates as the best bank in Egypt.
National Société Générale Bank takes the award for best local partner. Now majority owned by Société Générale, NSGB has carved out a niche for itself as the top speciality finance bank in Egypt by working on several project, acquisition, structured, leasing, and trade finance deals over the past 12 months. NSGB was the sole arranger for the financing of Egyptian Glass Company's E£270 million ($45 million) privatization in June 2002, one of the biggest deals in Egypt over the past 12 months.
The bank really stood out in 2002 by making record profits, at a time when most other banks were losing money.