Cairo – Mubasher: Drive Finance, a subsidiary of GB Corp, signed a syndicated credit facility valued at EGP 5 billion, according to a press release.
The facility is part of the company's strategy to diversify its funding sources and support its future expansion plans.
This marks the first syndicated loan ever granted to a company in the non-banking financial sector in Egypt, which boosts Drive Finance's position as one of the key players in the industry and strengthens its leadership in the market.
Drive Finance will utilize the loan to support its auto financing activities within both its consumer finance and factoring portfolios. This is in addition to expanding its customer base, widening its geographic reach, and offering innovative financial programs.
The agreement was arranged with the participation of the National Bank of Egypt (NBE) as the initial mandated lead arranger, facility agent, security agent, and documentary agent.
Meanwhile, the Commercial International Bank (CIB) served as the initial mandated lead arranger and structuring bank. The Arab African International Bank was the initial mandated lead arranger and account bank.
Banque du Caire also participated as lead arranger, alongside Emirates NBD and the Housing and Development Bank (HD Bank) as syndicate lenders.
Legal counsel for the lenders was provided by Matouk Bassiouny & Hennawy, while Ashraf Ehab Law Firm served as legal advisor to Drive Finance.
In the first nine months (9M) of 2025, GB Corp recorded 35.10% year-on-year (YoY) higher consolidated net profits at EGP 2.42 billion, compared to EGP 1.79 billion.
