By: Islam Fadl

Cairo – Mubasher: The National Bank of Egypt (NBE) has injected EGP 800 million in funding to deliver natural gas to houses in collaboration with specialised companies, head of retail risk group at the bank, Karim Sous, told Mubasher.

Natural gas has been delivered to about 400,000 customers at EGP 2,000 per customer, Sous added.

As for the Central Bank of Egypt’s (CBE) mortgage initiative for middle-income people, the Egyptian lender has provided about 77,730 customers with more than EGP 8 billion worth of funding.

The bank aims to increase its retail banking portfolio to EGP 100 billion by the end of fiscal year 2019/2020, compared to EGP 88 billion, including EGP 62 billion worth of personal loans, he revealed. 

Such funding will be directed to the CBE’s mortgage initiative for low-income people, credit cards, personal loans, and other retail banking products.