Cairo – Mubasher: The National Bank of Egypt’s (NBE) retail loan portfolio amounted to EGP 90 billion, representing 12% the bank’s entire loan portfolio.
Personal loans accounted for EGP 63 billion of the bank’s retail loan portfolio, planned to reach EGP 100 billion by the end of fiscal year 2019/2020, the state-run bank’s chairman Hisham Okasha said in a statement on Thursday.
These loans will be directed to the Central Bank of Egypt’s (CBE) mortgage initiative for low-income people, credit cards, personal loans, and other retail banking products.
The Egyptian lender has provided about EGP 8 billion worth of funding to the mortgage sector, including EGP 7.7 billion directed to about 80,000 customers under the mortgage funding initiative launched by the CBE in 2014, the NBE’s deputy chairman, Dalia El-Baz, said.
