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NEXT Bank announced the signing of an EGP 2.1 billion credit facility agreement with Ezz Al Arab Elsewedy Investments Group to finance investments at Ezz Al Arab Elsewedy Automotive factories and the construction of a new automotive paint factory, as part of the group’s plans to expand its industrial operations.

Financing industrial expansion

The transaction forms part of NEXT Bank’s strategy to expand its corporate finance business and strengthen its presence in the Egyptian banking market by financing major investments and projects.

Amr Gamal, Deputy CEO of Business at NEXT Bank, said the partnership reflects the bank’s commitment to supporting private-sector investment and expansion plans, based on its belief in the banking sector’s central role in enabling companies to implement investment plans and contribute to economic growth.

He added that the partnership with Ezz Al Arab Elsewedy Investments Group is aligned with the bank’s vision of strengthening its role as an active banking partner for clients and directing financing toward investments that support economic activity and create added value, in line with the state’s efforts to promote sustainable economic development.

Sherine El-Gazzar, Head of Corporate Finance, Investment Banking and Financial Institutions at NEXT Bank, said the transaction represents an important step in developing the bank’s corporate finance business. She added that it demonstrates the team’s ability to execute large credit transactions, as well as the bank’s experience in financing investments and expansions.

El-Gazzar said the bank is proud to complete the partnership and looks forward to strengthening its presence in the corporate finance market.

Supporting industry and supply chains

Mohamed Saleh, CEO of Ezz Al Arab Elsewedy Investments Group, said signing the agreement represents a strategic milestone for the group and embodies a long-term partnership based on a shared vision to support national industry.

He said investment in the new paint factory and the expansion of Ezz Al Arab Elsewedy’s automotive factories will increase production capacity while supporting deeper industrial integration and wider localization of supply chains, strengthening the competitiveness of its products.

Saleh added that the partnership is expected to help accelerate the group’s growth and achieve its targets, while the new paint factory is intended to create added value for national industry in line with the state’s goals for sustainable industrial development.

Ahmed Fathy, Head of Finance at Ezz Al Arab Elsewedy Investments Group, said the credit facilities reflect the group’s strong financial position, the banking sector’s confidence in its creditworthiness and the efficiency of its capital structure management.

He added that the financing is part of a financial strategy aimed at diversifying funding sources, improving funding costs and directing financing toward investments with sustainable operating returns. The structure also provides the financial flexibility needed to fund future expansion phases and maintain healthy, sustainable growth rates.

She added that the transaction also reflects the bank’s credit capabilities and its ability to participate in major transactions with leading companies in the Egyptian market. The group said the financing structure supports future expansion while maintaining sustainable growth.