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.