Egypt’s housing bank pumps EGP 6.6bn into mortgage financing

Egyptian state-owned Housing and Development Bank’s (HDB) has posted mortgage finance portfolio of 6.6 billion Egyptian pounds by the end of June 2019.

HDB has allocated a total sum of 5.5 billion pounds of these funds to the Central Bank of Egypt’s mortgage finance initiative.

In addition, retail loans portfolio has recorded 9 billion Egyptian pounds by the end of the first half of 2019, compared to 8.5 billion pounds by the end of 2018 according to its recent financial report.

However, the bank’s personal loans portfolio has registered 1.9 billion pounds and the credit cards portfolio has posted 19.9 million pounds.

HDB’s net profit recorded 1.072 billion pounds in the first half of 2019, compared to 994 million pounds in the comparable period of 2018.