Egyptian banks poured EGP 53.186 into Mortgage finance by Jan-end

Mai Abdel Hamid, head of Mortgage Finance Fund, revealed that the total financing provided by banks to the mortgage sector increased to EGP 53.186 billion by the end of January 2023. She added that 22 banks operating in the Egyptian banking sector have directed those finance to the mortgage sector.

She exclusively told First Bank that that the number of customers benefiting from mortgage loans in banks reached 467.55 thousand customers, which is approximately 95.8% of the total customers who benefited from mortgage finance during the past month.

First Bank is monitoring the the total value of the 22 banks’ contributions to mortgage finance at the end of last January, the number of clients benefiting from each bank, and its percentage of the total Mortgage.