Arab Finance: Bank NXT has signed an EGP 2.1 billion credit facility with Ezz Elarab Elsewedy Investments to finance expansion at Ezz Elarab Elsewedy Automotive Factories and the construction of a new automotive paint plant, as per an emailed press release.
The projects form part of the Ezz El Arab–El Sewedy Group’s plans to expand its industrial operations and production capacity. For Bank NXT, the deal also adds to its corporate banking activity in Egypt.
“This agreement with Bank NXT is far more than financing; it is a strategic milestone and a long-term partnership built on one shared belief: that a stronger national industry begins with bold investment. Our new paint plant and the expansion of Ezz Elarab Elsewedy Automotive Factories will not simply raise production capacity; they will deepen industrial integration and localize our supply chains, sharpening the competitive edge of everything we make. We are confident this partnership will accelerate the Group’s growth and, through the new plant, create genuine value for Egyptian industry fully aligned with the nation’s vision for sustainable industrial development,” Mohamed Saleh, Chief Executive Officer of Ezz Elarab Elsewedy Investments, said the financing would support the group’s manufacturing plans.
The group is using the facility as part of a broader funding strategy, according to Ahmed Fathy, Chief Financial Officer of Ezz Elarab Elsewedy Investments: “These credit facilities reflect the strength of the Group's financial position and the banking sector's confidence in its creditworthiness and the efficiency with which it manages its capital structure. This financing comes within a balanced financial strategy that seeks to diversify funding sources, optimize their cost, and channel them into investments with sustainable operating returns that build cumulative value for the Group and its partners over the long term. This financing structure also gives us the financial flexibility we need to fund the coming phases of expansion while sustaining healthy, durable growth rates.”
On the bank’s side, Amr Gamali, Deputy CEO – Business at Bank NXT, linked the agreement to its support for private sector investment: “Through this partnership, Bank NXT reaffirms its commitment to supporting private sector investment and expansion plans, driven by its belief in the pivotal role of the banking sector in enabling businesses to execute their investment plans and contributing to economic growth. This partnership with Ezz Elarab Elsewedy Investments reflects the Bank’s vision of strengthening its role as a trusted banking partner to its clients and directing financing toward investments that support economic activity and create value, in line with the state’s efforts to promote sustainable economic development.”
Shereen Elgazzar, Chief of Corporate, Investment Banking & Financial Institutions at Bank NXT, said the transaction also advances the bank’s corporate lending business: “This transaction represents an important step in the development of Bank NXT’s corporate banking business and demonstrates our team’s ability to execute large-scale credit transactions efficiently. It also reflects the Bank’s expertise in financing investments and expansion plans, as well as its strong banking and credit capabilities, enabling us to participate in landmark transactions with leading companies operating in the Egyptian market. We are proud to have completed this partnership with Ezz Elarab Elsewedy Investments and look forward to building on this success and further strengthening Bank NXT’s presence in the corporate banking market.”
