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National Bank will study 10.4 thousand applications for real estate financing of about 1.1 billion pounds
16:37
Wednesday, July 04, 2018
Mustafa El Eid:
Yahya Abul Fotouh, Vice President of the National Bank of Egypt, said that the bank is currently studying about 10,400 mortgage records for low and middle income individuals. a total value of about 1.1 billion pounds. 19659005] Abu Al-Fotouh predicted that the size of the real estate financing portfolio for low and middle income will increase to LE 4.7 billion after completing all the required documents for the files studied, according to a statement from the bank, obtained by Masrawi. And the low-income bank at 3.6 billion pounds were granted at around 37.8 thousand pounds The average amount granted by the Bank during the months of May and June reached about 2500 housing units for 250 million pounds per month, according to the release.
The Central Bank launched an initiative In April 2014, aims to provide long-term low-return funding for those seeking housing.
These loans are repaid over a period of up to 20 years with a simple interest rate ranging from 5 to 10.5% per income bracket.
Gamal Najem, deputy governor of the Central Bank, said on the sidelines of the Conference on Technological Innovations Finance and the Future of Banking At the end of April, funding for the real estate finance initiative was reaching £ 13 billion over the four years since the launch of the initiative
. The Bank reported that 34 branches have been distributed in 23 governorates of the country to take up the social housing program and that three sectors have been created at the bank's headquarters to accelerate the implementation of funding files. mortgage, especially those in the low-income group. And a practical sector Hisham Okasha, chairman of Ahli Bank, said that his bank is setting up mortgage financing activities, particularly targeting low-income groups, eager to support this portfolio through an integrated system allowing for the delivery of funds. 39 to study the most needy categories.
Akasha pointed out that Ahli Bank took first place in the mortgage financing system at the end of May last for the seventh consecutive month, surpbading all banks participating in the system, as described. 19659016] $ (function (d, s, id) {
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