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Rarely has having a bank with the expertise to navigate uncertain markets been so important to borrowers as in 2023. One firm in particular stood out for its ability to guide successful transactions home in the hardest of conditions. The winner of GlobalCapital’s Loan House of the Year — in addition to a host of other loan awards — was BNP Paribas. GlobalCapital spoke to Nicolas Rabier, the bank’s co-head of investment grade finance, about what lay behind the firm’s success and some of the stand out deals from the past year.

Crédit Agricole CIB was involved in virtually every award-winning loan deal this year. But its strength in real asset finance won special mention. Clean energy and the digital transition are two of the most important trends in global infrastructure — the bank is at the heart of both. Unrivalled experience saw the firm lead stellar telecom tower and offshore wind transactions — leaving it the clear winner of Best Arranger of Infrastructure and Renewables Loans.

Emirates NBD Capital’s CEO, Hitesh Asarpota, discusses the growing Middle East equity market, high demand for sustainability and Sukuk, and the bank’s priorities for 2024 during a discussion with GlobalCapital.

Emirates NBD Capital’s CEO, Hitesh Asarpota, discusses the growing Middle East equity market, high demand for sustainability and Sukuk, and the bank’s priorities for 2024 during a discussion with GlobalCapital.

To date, it has launched fifteen sustainable bond issues (10 social and 5 green) for an amount of 7,552 million euros to finance projects that drive sustainable growth.

Bertrand de Mazières, Director General of Finance at the European Investment Bank (EIB), retires this year after 17 years at the institution. During an august career he helped guide the bank through periods of global financial crisis and political turmoil. He was instrumental in the EIB’s evolution into a climate bank that has laid the foundations of a trillion dollar green bond market. But in a testament to the institution’s culture, what he will miss most is the people.

It has been a busy year for capital markets across the Middle East in general, and the six-nation Gulf Cooperation Council (GCC) in particular.

Robust primary supply, currency diversification and a shifting product mix are among the key Crédit Agricole CIB forecasts for European bank issuance next year.

Nearly 10 years on from its foundation, French local government funding agency Agence France Locale is building up its support for environmentally friendly and sustainable projects

Years of strategic investment in technology and personnel have turned Fenics Market Data into an industry-leader. A powerhouse of data and analytics, the firm’s expertise across different products, subject areas and regulatory issues creates a peerless business proposition. Fenics Market Data is a well-deserved winner of GlobalCapital’s Americas Data and Analytics Vendor of the Year.

As the drive to finance more green projects spreads across the world, stakeholders are in need of further guidance on how to identify appropriate green project opportunities. In its ease of use, comprehensive coverage and analytic rigour, the EIB’s Green Eligibility Checker has emerged as a market-leading digital tool for the greening of the financial industry.

European firms have had a tumultuous few years and the sands are set to continue shifting in 2024. Fractious geopolitics, untamed inflation and the megatrends of decarbonisation and AI make strategic planning a major headache. But DBRS Morningstar says certain firms are better placed to navigate the challenges.

Distinguished by its cutting-edge proprietary technology and tailor-made solutions, Capitalab — a division of London-based BGC Brokers — has built an impressive reputation for helping firms manage their most complex derivative problems. For its exemplary work helping clients adapt to an ever-evolving market, Capitalab wins Americas Optimisation Service of the Year award.

A world-class team, decades of dedication to the market and unparalleled coverage across different products all helped put Citi ahead of its competitors in 2022. The firm has taken home well-deserved awards for credit derivatives in the Americas, Europe, and Asia, as well as interest rate derivatives in the Americas.

COP27 demonstrated the power of well organised climate-vulnerable nations pursuing collective, purposeful action for climate justice. The Middle East and Africa were core actors at COP27, since they were considered to be the most vulnerable to climate change. CIB is committed to working with stakeholders to achieve decarbonisation and climate goals. By collaborating and providing leadership, the bank aims to support the transition towards a green economy that benefits communities, the environment, and the economy.

Egypt may lack the Gulf region’s capacity for state-directed investment, but its savvy policy choices and private sector dynamism have still made it a regional leader in renewable energy growth.

Egypt’s strategic importance, resilient banking industry and huge population remain strong fundamentals for the country. Although it faces economic volatility, investors say the government is on the right track to unlock Egypt’s immense investment opportunities.

The European Investment Bank has built impressive longstanding relationships across North Africa in general and Morocco in particular. It began working with Morocco in 1979, since when it has channelled some €10bn of investment into the country. These flows have accelerated, with €2.5bn invested in the last five years, making Morocco the second largest recipient of EIB investment in North Africa since 2017. In this interview, Ricardo Mourinho Félix, the EIB vice-president responsible, among other things, for its activities in Morocco and Tunisia, shares his thoughts on the Bank’s lending strategy and its response to the earthquake in Morocco.

Sustainable finance has come a long way — but not far enough. Two European Investment Bank climate finance experts discuss why capital markets are not yet turning the tide against climate change, and why rigorous guidance on transition finance is so badly needed.

For a country with Qatar’s incredible fossil fuel resources, the move towards decarbonisation is a substantial challenge. But its leaders have acknowledged the importance of placing renewable power and sustainable economic growth at the forefront of the country’s strategy.

Following the 2022 World Cup, we are experiencing a transformative 2023. Slower credit growth is signalling a shift from rapid non-oil sector expansion, which was driven by extensive infrastructure investments tied to the event. The remarkable infrastructure built for the World Cup will find a new purpose, boosting the economy through international events. The tourism and hospitality sectors, along with upcoming events like the Asian Football Cup and Formula 1 Qatar Grand Prix, will enhance global attention.

A successful FIFA World Cup helped put Qatar squarely in the centre of the world stage. Now, with the tournament behind it, the country is moving forward with the next stage of its incredible economic journey.

The successful preparation and organisation of the 2022 FIFA World Cup — the largest event ever hosted in the region — led to strong economic growth. The momentum associated with the event contributed to an 8% year-on-year GDP growth for Qatar in Q4 2022, the strongest performance in more than a decade. Importantly, Qatar’s non-energy sector was particularly buoyed, with close to 10% growth during the same period.

Supporting the next stage of Qatar’s economic journey is a priority for Commercial Bank, and we believe that the banking sector can play a pivotal role. We aim to provide tailored financial solutions that enable both local and international investors to participate in Qatar’s economic development. This includes offering competitive lending terms, structured finance solutions, and investment advisory services to help businesses thrive and expand. We empower SMEs — which are vital drivers of economic diversification and job creation - by providing access to capital, financial advice, and specialised banking solutions. Commercial Bank’s efficient and convenient digital platforms allow businesses and individuals to conduct financial transactions seamlessly. We aim to be a catalyst for economic growth, innovation, and prosperity in Qatar.

The success of the FIFA World Cup has raised Qatar’s profile as a destination for tourism and foreign direct investment and highlighted its potential as a host for international events. The country invested more than $200bn in infrastructure for the World Cup, which is now expected to result in positive economic multiplier effects. The increase in FDI is a crucial component of economic diversification.