NBE acquires 26.8% of total mortgage financing, worth EGP 16.455 bn, by July -2023 end

A recent report issued by Mortgage Finance Fund revealed that the National Bank of Egypt acquired 26.8% of total Mortgage financing granted by banks within Mortgage financing initiative, to record EGP16.455 bn by the end of July 2023, provided to 139.746 thousand customers.

The head of Mortgage Finance Fund indicated that the total financing provided by banks rose to EGP 59.125 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 503.183 thousand customers, so that banks accounted for 96.2% of total customers benefiting from Mortgage financing during the past month.