Egypt mortgage companies’ portfolios rise 23.24% at March-end: report

Big 5

Egyptian mortgage finance companies’ cumulative portfolios rose 23.24 percent to 11.1 billion Egyptian pounds ($648.3 million) until the end of March against 9 billion pounds last year, according to a report.

The companies pumped funding worth 187 million pounds last March from 240.1 million during the same period in 2018, said the Egyptian Financial Supervisory Authority (EFSA) in its monthly report on Thursday.

“The companies’ cumulative mortgage contracts increased 26.65 percent to 4.8 billion pounds until the end of March, compared with 3.8 billion pounds last year,” EFSA said.