Egyptian banks, firms inject EGP 61.46bn in low-income mortgage initiative

Egypt’s Social Housing and Mortgage Finance Fund has revealed in a recent report on Sunday that banks and companies pumped about 61.46 billion Egyptian pounds in the mortgage financing initiative for low-income people until July 2023.

The banks have injected financing worth 59.125 billion pounds to about 503.183 thousand customers. While the companies have added about 2.334 billion pounds to about 19,123 customers within the initiative.

The National Bank of Egypt (NBE) topped the list of banks participating in the initiative, as it pumped financing worth 16.455 billion pounds to about 139,746 customers, the report showed.