Credit Portfolio of Egypt’s HDB ups EGP7bn

Chairman and Managing Director of Housing and Development Bank (HDB) Mr. Fathy El Sibai said the loans portfolio and credit facilities of the bank reached to EGP7 billion within the current period.

In statements to Amwal Al Ghad,  El Sibai added that the deposit portfolio registered EGP9 billion, stressing that HDB is targeting good growth rates in deposit and loan portfolios.

HDB is aiming 14% growth in portfolio to become EGP9.9 billion in compared to 2013, while it seeking to achieve raise in facilities and loan portfolios to register EGP7.5 billion, with 12% growth rate against 2013.

The bank approved on EGP80 million finance to one thousand clients among the Central Bank of Egypt (CBE) ‘s initiative for activating real estate finance in favor of medium and low incomes, El Sibai added.

HDB signed cooperation protocol with Real estate fund to finance for who wants  housing units from low and medium income , capturing EGP2 billion.

CBE offered EGP10 billion among its initiative to activate mortgage finance with 7% decreasing interest for low-income and 8% for medium-income besides payment period reaches 20 years, CBE’s governor Hisham Ramez stated that another category will be offered with the same value after the first category has finalised.