The banks participating in the mortgage finance initiative for low-income people pumped EGP 48.334bn in funds to about 436,800 customers, until the end of September 2022.
A report by the Social Housing and Mortgage Finance Fund revealed that the National Bank of Egypt topped the banks with financing of EGP 13.7bn, benefiting 122,300 customers, with a market share of 27.1%, then Banque Misr in second place with total financings of EGP 11.1bn directed to 98,500 customers, with a share of 22%.
The Housing and Development Bank came in third place with EGP 6.412bn in financing directed to 68,649 clients, with a share of 12.7%, then Banque du Caire with EGP 3.174bn in financing directed to about 34,100 beneficiaries, with a share of 6.3%.
In the fifth place came the Commercial International Bank – Egypt with financing amounting to EGP 2.898bn, benefiting 22,713 clients, with a share of 5.7%, then QNB Al-Ahly Bank with funds amounting to EGP 1.908bn directed to about 14,391 clients, with a share of 3.8%.
In seventh place came the Industrial Development Bank, with financing amounting to EGP 1.712bn directed to 15,881 clients, and a share of 3.4%, then the United Bank, with financing amounting to EGP 1.565bn to about 11,953 clients, and the Arab African International Bank, with financings amounting to EGP 1.126bn directed to 9750 clients. Then BLOM Bank Egypt, with financing amounting to EGP 676.5m for 5795 clients, ranking tenth among the banks participating in this initiative.
