NBE Funded Purchase of 12,500 Units for Low-income Citizens

Monday, 19th September 2016

The National Bank of Egypt (NBE) has financed the purchase of 12,500 housing units for low-income citizens at a cost of over EGP 1 million, according to NBE Chairman Hisham Okasha, reported Al Mal News.

The bank financed 2,730 units at a costs of EGP 247 million in July and August, marking a strong upswing in lending, stated Okasha.

Total lending during that period recorded a 28% growth in number and 31% in the value of funds granted, compared to lending at the end of the fiscal year that finished in June.

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