Personal loans dominate 77.5% of NBE’s retail banking portfolio
The personal loans are at the forefront of the National Bank of Egypt’s (NBE) products, representing 77.5 percent of the bank’s total retail banking portfolio, according to its vice chairperson Yahia Aboul Fotouh.
The volume of real estate financing by the end of December 2020 under the Central Bank of Egypt (CBE) initiative covering low-interest mortgage financing to the middle-income segment neared 10 billion pounds given to 91,000 customers.
The NBE is eyeing a target of 12 billion pounds under the initiative by the end of December 2021.
On the other hand, Aboul Fotouh revealed that the bank had succeeded in increasing its credit card portfolio to 1.3 million cards at the end of December 2020. As part of this, the portfolio size commensurately increased to 7.3 billion pounds at the end of December 2020.
He pointed out that the bank had succeeded in issuing about 3.3 million Meeza cards to many citizen segments, most of whom had not previously dealt with banks.