Mortgages stood at EGP1.38bn in 2nd Q of 2021, EFSA
The value of new mortgages that lenders agreed to hand out in the 2nd quarter of 2021 increased by 218.54 percent per year, according to the Egyptian Financial Supervisory Authority.
Volume of lenders’ mortgages extendedto 1488 clients stood at EGP1.386bn, up from EGP435.2mln commitments that had been extended to only 601 beneficiaries during the same period last year.
Types of clients have dictated mortgage transactions in the 2nd quarter of this year, as purchased portfolios recordedEGP890.6mln, clients of Mortgage Support Fund obtained EGP60.5mln andthe ordinary client EGP435.2mln.
Earners of more than EGP3500 income received 81.59% out of total mortgagesin the 2nd quarter of 2021.
Earners of income ranging from EGP2500 to EGP3500 constituted up to 9.54 percent of lending, whereas income segment of more than EGP2500 logged 8.87% out of total mortgage commitments.
