Banks operating in the Egyptian market pumped EGP 57.097bn within the mortgage finance initiative for low-income people to about 490,603 customers, representing 96.1% of the initiative, in May 2023.
A report issued by the Social Housing and Mortgage Finance Fund revealed that non-bank financial companies offered EGP 2.333bn within the initiative to about 19,108 customers, accounting for 3.9%.
Both banks and companies participating in the initiative offered EGP 59.43bn to about 509,000 customers.
According to the Mortgage Finance Fund, the National Bank of Egypt (NBE) topped the banks participating in this initiative, as it offered EGP 16.012bn to about 137,079 customers, accounting for 26.9% of the total funds within the initiative.
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.