NBE to establish three independent mortgage financing units

The National Bank of Egypt (NBE) is planning to establish three independent mortgage financing units in 6 October City, 10 Ramadan City, and the industrial zone in Minya, as part of the bank’s plan to expand its exposure to the Central Bank’s Mortgage Finance Fund, Vice Chairman Yehia Aboul Fotouh said yesterday, Al Shorouk reports. The NBE had said in October last year that it was planning to inject an additional EGP 5 bn into the program.