Cairo - Mubasher: The National Bank of Egypt (NBE) is planning to pump EGP 10.7 billion as part of the central bank’s initiative, according to the head of retail banking, Alaa Farouk.

Farouk told Mubasher on Tuesday that NBE has pumped EGP 4.7 billion as part of the Central Bank of Egypt’s (CBE) mortgage initiative that aims at financing real estate for low-income citizens, with another EGP 6 billion by the end of 2018/2019.

The bank’s retail portfolio reached EGP 52 billion by mid-October, and its planned to reach EGP 65 by the end of the current fiscal year.