NBE acquires 26.9% of total mortgage financing, worth EGP 16.159 bn, by June-2023 end

A recent report issued by Mortgage Finance Fund revealed that the National Bank of Egypt acquired 26.9% of total Mortgage financing granted by banks within Mortgage financing initiative, to record EGP16.159 bn by the end of June 2023, provided to 137,959 thousand customers.

The head of Mortgage Finance Fund indicated that the total financing provided by banks rose to EGP 57.740 bn by the end of June 2023, through 22 banks operating in the Egyptian banking sector.

The number of customers benefiting from Mortgage financing granted by banks rose to 494,492 thousand customers, so that banks accounted for 96.1% of total customers benefiting from Mortgage financing during the past month.