National Bank of Egypt – Ratings Affirmed

12 February 2026

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has affirmed the Long-Term Foreign Currency Rating (LT FCR) and Short-Term Foreign Currency Rating (ST FCR) of the National Bank of Egypt (NBE or the Bank) at ‘B’. At the same time, CI Ratings has affirmed NBE’s Bank Standalone Rating (BSR) of ‘b’, Core Financial Strength (CFS) rating of ‘bb’ and Extraordinary Support Level (ESL) of Moderate. The Outlook for the LT FCR and BSR remains Stable.

NBE’s size and ownership mean that the FCRs are inevitably closely correlated with those of the sovereign. This linkage is strengthened by the high level of Egyptian government debt holdings and the fact that NBE is also a leading banker to state-owned enterprises. The moderate likelihood of official extraordinary support is underpinned by NBE’s government ownership and its systemic importance as Egypt’s largest bank in terms of total assets, deposits and capital. However, while…