Banks operating in the Egypt invested EGP 57.097 billion into the mortgage finance initiative for people with low incomes in May 2023, representing 96.1% of the program.
According to a report provided by the Social Housing and Mortgage Finance Fund, non-bank financial businesses contributed EGP 2.333 billion to the project, accounting for 3.9% of the total.
Participating banks and companies contributed EGP 59.43 billion to around 509,000 consumers.
According to the Mortgage Finance Fund, the National Bank of Egypt (NBE) led all banks participating in this effort, offering EGP 16.012 billion to about 137,079 consumers, accounting for 26.9% of the total funds available.
Banque Misr came in second place, with financing amounting to EGP 14.300bn to about 117,249 customers (24.1%), followed by the Housing and Development Bank with 11.4%, as it offered EGP 6.780bn to about 70,928 customers.
Banque du Caire ranked fourth with a 6.3% share, providing EGP 3.717bn to about 37,754 customers, followed by the Commercial International Bank (CIB) with a 5.3% share, offering EGP 3.173bn to about 24,163 customers.
QNB Alahli came in sixth place with a share of 4.6% and EGP 2.750bn funds to 19,471 customers, followed by the Industrial Development Bank with a share of 3% and EGP 1.799bn funds to about 16,500 customers.
The United Bank came in eighth place, with financing of EGP 1.718bn to about 12,959 customers (2.9%), followed by the Arab African International Bank with financing of EGP 1.188bn to about 10,118 customers (2%).
Mashreq Bank ranked 10th with financing of EGP 810.8m to about 5,087 customers, accounting for 1.4% of the initiative’s financing.
