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Daily News Egypt
3 days ago
- Business
- Daily News Egypt
Banks inject EGP 82.1bn into low-income mortgage initiative until April 2025
The Social Housing and Mortgage Finance Fund (SHMFF) has announced that banks and mortgage finance companies have disbursed a total of EGP 84.64bn to approximately 630,015 low-income beneficiaries under the government-backed mortgage finance initiative as of the end of April 2025. According to the Fund's latest report, 22 participating banks injected around EGP 82.128bn, benefiting 610,201 clients, which accounts for 97% of total disbursements under the initiative. The National Bank of Egypt (NBE) topped the list, providing EGP 20.396bn in financing to 159,522 clients, representing 24.1% of total funding. Banque Misr followed with EGP 19.390bn in loans to 146,347 clients (22.9%), while Banque du Caire came in third with EGP 9.123bn extended to 61,094 clients (10.8%). Housing and Development Bank ranked fourth, disbursing EGP 7.920bn to 76,081 clients (9.4%). QNB Alahli followed in fifth place with EGP 5.802bn granted to 32,665 clients (6.9%). In sixth place, the Commercial International Bank (CIB) provided EGP 5.006bn to 30,606 clients, capturing 5.9% of the market share. It was followed by the United Bank with EGP 2.188bn to 15,236 clients (2.6%), and the Industrial Development Bank with EGP 2.028bn to 17,929 clients (2.4%). Bank NXT ranked ninth with EGP 1.787bn in loans to 10,269 clients (2.1%), while the Arab African International Bank rounded out the top ten with EGP 1.409bn provided to 11,056 clients, representing 1.7% of total disbursements. In parallel, eight mortgage finance companies disbursed a combined EGP 2.514bn to approximately 19,814 clients, accounting for 3% of the initiative's overall funding. Al-Tameer Mortgage Finance Company led the sector with EGP 991.9m extended to 7,429 clients, followed by Contact Mortgage, which disbursed EGP 838.7m to 6,167 clients. Al Ahly Mortgage Finance (AMF) came in third with EGP 285.2m to 2,543 clients, trailed by Amlak Finance Egypt with EGP 252.9m granted to 2,328 clients. The list continues with Tamweel Mortgage Finance (EGP 69.5m to 609 clients), Egyptian Housing Finance Company (EGP 43m to 429 clients), Ahli United Mortgage Finance (EGP 20m to 200 clients), and Arab African International Mortgage Finance (EGP 12.2m to 109 clients).
Zawya
5 days ago
- Business
- Zawya
USD/EGP exchange rates edge down at Egyptian banks
Arab Finance: The exchange rate of the US dollar to Egyptian pound retreated on Thursday, hitting EGP 49.71 for purchasing and EGP 49.81 for selling at Banque Misr at 1:24 PM. Likewise, the US dollar recorded EGP 49.71 for buying and EGP 49.81 for selling at the National Bank of Egypt (NBE) at 2:15 pm. At the Commercial International Bank Egypt (CIB), the exchange rate hit EGP 49.7 for purchasing and EGP 49.8 for selling. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Egypt Today
22-05-2025
- Business
- Egypt Today
Strong performance by banking, tobacco sectors raises Egypt's top 10 most valuable brands' worth to $3.3B
According to the latest Egypt 10 2025 ranking by Brand Finance, the total value of Egypt's top 10 most valuable brands has reached $3.3 billion. The impressive growth is largely attributed to strong performances in the banking and tobacco sectors, particularly by the National Bank of Egypt and Nakhla. For the third year in a row, National Bank of Egypt (NBE) remains the nation's most valuable brand. Its brand value has risen by 9 percent, reaching $717 million. This growth is attributed to the bank's focus on high-yield savings products, which are benefitting from higher interest rates, as well as its strategic push towards digital banking and sustainable financial practices. Nakhla has shown the most impressive growth among Egypt's top brands, seeing its value soar by 32 percent to $418 million. The tobacco brand's success is largely attributed to its diverse product offerings that align with consumer preferences and the expanding global demand for hookah tobacco. Nakhla has solidified its position in Egypt while also increasing exports across several international markets, significantly boosting both revenue and brand value. CIB (Commercial International Bank) maintained its place as one of the country's strongest brands, with a 3 percent growth, bringing its brand value to $351 million. CIB's strong consumer trust and its consistent Brand Strength Index (BSI) score of 77.6/100 and AA+ rating reflect its reputation as a top choice for Egyptians seeking reliability in financial services. Andrew Campbell, Managing Director of Brand Finance Middle East, offered insight into the changes shaping Egypt's brand landscape - 'The growth we're seeing among Egypt's top brands this year really shows how the game is changing. It's not just about strong numbers anymore – it's about having a clear direction, staying flexible, and genuinely connecting with people. The brands that are listening, adapting, and staying relevant are the ones coming out on top.'
Zawya
22-05-2025
- Business
- Zawya
USD rate still below EGP 50-mark at Egyptian banks
Arab Finance: The exchange rate of the US dollar to the Egyptian pound remained below the EGP 50 mark on Wednesday, hitting EGP 49.8 for buying and EGP 49.9 for selling at Banque Misr at 12:10 PM. The dollar rate stood at EGP 49.8 for purchasing and EGP 49.9 for selling at the National Bank of Egypt (NBE) at 2:15 pm. Likewise, the US dollar traded at EGP 49.8 for buying and EGP 49.9 for selling at the Commercial International Bank Egypt (CIB). © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
19-05-2025
- Business
- Zawya
USD/EGP exchange rates edge down on Sunday
Arab Finance: The exchange rate of the US dollar to the Egyptian pound edged down on Sunday, recording EGP 50.07 for buying and EGP 50.17 for selling at Banque Misr at 1:33 PM. Also, at the National Bank of Egypt (NBE), the dollar rate registered EGP 50.07 for purchasing and EGP 50.17 for selling at 1:42 pm. The US dollar traded at EGP 50.07 for buying and EGP 50.17 for selling at the Commercial International Bank Egypt (CIB). © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
