The competition for the top spot among the major banks continues, with the National Bank of Egypt (NBE) maintaining its lead with a market share of 22.1%, having provided financing worth EGP 21.9 billion to over 166,000 clients. Banque Misr came in second with a close margin, holding a 21.6% share and providing financing totaling EGP 21.522 billion.
According to the Fund’s data, the top ten banks (low-income
category) are: National Bank of Egypt – EGP 21.99 billion, Banque Misr – EGP
21.52 billion, Banque du Caire – EGP 11.02 billion, Housing and Development
Bank – EGP 8.01 billion, QNB Al Ahli – EGP 7.26 billion, Commercial
International Bank (CIB) – EGP 6.13 billion, United Bank – EGP 2.50 billion,
Next Bank – EGP 2.47 billion, Industrial Development Bank – EGP 2.20 billion,
and Mashreq Bank – EGP 1.40 billion.
The report highlighted that the banking sector remains the
main driver of mortgage finance initiatives, accounting for approximately 92.8%
of total market financing for low-income individuals. This reflects strong
confidence in these initiatives, which aim to provide adequate housing with
subsidized interest rates and repayment periods of up to 30 years.
It is worth noting that total real estate financing (banks
and companies) has approached EGP 100 billion, reinforcing the state’s efforts
in urban expansion and achieving social justice.