Egypt’s NBE largest lender to grant mortgage finance by Jan-end, followed by Banque misr

The National Bank of Egypt, the largest state-owned lender, pumped EGP132.14 billion by the end of January 2023 into mortgage finance, thus accounting for 27.3% of the total financing granted to the sector, according to a recent report by Mortgage Finance Fund.

However, Banque Misr was second largest lender to grant mortgage finance which amounted to about EGP 109 billion by the end of January 2023, obtaining 23.2% of the total finance granted by banks operating in Egypt.

It is worth noting that the total mortgage financing provided by banks increased to EGP 53.186 billion by the end of January 2023, through 22 banks operating in the Egyptian banking sector.

The Chairperson of MFF Mai Abdelhamid told First Bank website exclusivelythat the number of beneficiaries of mortgage finance through banks amounted to about 467.500 customers, which accounted for approximately 95.8% of the total mortgage finance beneficiaries during the past month.