ICEC

Egyptian mortgage companies pump funds of 1.4 bln pounds in 11 months

The total value of mortgage granted by mortgage companies in the first 11 months of 2017 recorded 1.4 billion Egyptian pounds compared one billion pounds in the same period a year earlier, with an increase of 46 percent.

Moreover,  The mortgage companies have granted funds of  8.3 billion Egyptian pounds from the beginning of the mortgage activity accumulative portfolio till the end of end November 2017  comparing to a total value of 6.8 billion pounds in the corresponding period of 2016, with an increase of 23.2 percent.

Mortgage firms’ current funds accounts registered 3.5 billion pounds by the end November 2017 versus 2.9 billion pounds in November 2017 with an increase of 21 percent.

On the other hand, The value of remortgage paid by Egyptian Mortgage Refinance Company’s has recorded 141 million Egyptian pounds in the first 11 months of 2017 in comparison to 132 million pounds in 2016.

The value of granted remortgage funds  since the beginning of the mortgage activity accumulative portfolio till the end of end November 2017 has registered 1.2 billion pounds compared with 1.05 billion pounds by the end of November 2016, with an increase rate of 10.8 percent.

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