National Bank of Egypt Grants Short-Term Financing to U Consumer Finance "Valu"

The National Bank of Egypt (NBE) announced the signing of a short-term financing agreement worth up to EGP 3 billion for U Consumer Finance, known under the trademark of "Valu", Egypt’s universal financial technology powerhouse.

This comes as part of NBE’s support for the non-banking financial sector, the promotion of financial inclusion, and the expansion of the beneficiary base for innovative financing solutions.

NBE’s confidence

The signing was attended by Soha El-Turky and Yehia Abou El-Fotouh, Deputy Chief Executive Officers of the National Bank of Egypt and Walid Hassouna, Chief Executive Officer of Valu, along with the teams of both entities.

Following the signing, Soha El-Turky, Deputy CEO of the National Bank of Egypt, stated that this financing reflects NBE’s confidence in Valu’s business model and its pivotal role in developing the consumer finance ecosystem in the Egyptian market.

Financial Solutions

El-Turky emphasized the bank's commitment to supporting entities capable of providing innovative and responsible financial solutions that stimulate local demand and enhance financial inclusion, aligning with the bank's strategy for sustainable economic growth.

El-Turky added that this credit facility is part of NBE’s orientation toward strengthening partnerships with leading institutions in the non-banking financial sector to ensure financing flexibility and business sustainability.

Supporting Companies

El-Turky noted that supporting companies like Valu helps broaden the scope of modern financing solutions while remaining fully committed to regulatory frameworks and professional standards.

El-Turky further pointed out that this funding will finance Valu’s ongoing operations until the completion of new bond issuance procedures, ensuring the company’s business sustainability and enhancing its ability to meet the growing demand for consumer finance services in Egypt.

Strategic Partner

Walid Hassouna, CEO of Valu, expressed his delight in collaborating with the National Bank of Egypt, describing it as a strategic partner that supports the company’s expansion plans and enhances its ability to meet customer needs.

He added that the financing provides the company with the necessary flexibility to manage operations efficiently during the current phase and supports future plans for growth and diversifying funding sources.

The Trust

Hassouna underscored the company’s appreciation for the trust placed in it by NBE, noting that the cooperation between the two parties has spanned since the company’s founding, as NBE is one of the company's most primary banks and a fundamental partner in its journey.

Source: Press Release