National Bank of Egypt – Ratings Outlook Revised to Stable from Negative

Ref: EG 025 2 4 PBK 00-0 2 29 August 2 0 2 4

National Bank of Egypt – Ratings Outlook Revised to Stable from Negative

Capital Intelligence Ratings (CI Ratings or CI) today announced that it has revised the outlook on National Bank of Egypt’s (NBE) Long-Term Foreign Currency Rating (LT FCR) and Bank Standalone Rating (BSR) to Stable . This follows CI Ratings’ recent revision of the outlook for Egypt’s sovereign rating to Stable from Negative.

At the same time , CI has affirmed NBE’s LT FCR and BSR at ‘B’ and ‘b’, respectively. CI has also affirmed the Bank’s Short-Term (ST) FCR of ‘B’, Core Financial Strength (CFS) rating of ‘bb’ and Extraordinary Support Level (ESL) of Moderate. NBE’s LT FCR and BSR are closely correlated with the sovereign’s creditworthiness. Any improvement or deterioration in Egypt’s LT FCR and/or outlook will have a corresponding effect on NBE’s…