United Bank Rises To 7Th Among Egypt's Mortgage Lenders With EGP 3.2Bn Portfolio

2025-06-21 02:02:26

(MENAFN- Daily News Egypt) Ashraf El-Kady, Chairperson of United Bank, announced that the bank's mortgage finance portfolio for low- and middle-income housing surpassed EGP 3bn in May 2025. With total financing reaching EGP 3.225bn, United Bank has become the seventh largest provider of mortgage finance in this segment, according to the Social Housing and Mortgage Finance Fund.

El-Kady noted that more than 16,500 clients have benefited from financing for social and middle-income housing units nationwide. He highlighted the bank's role in supporting government and Central Bank efforts to promote social justice and eliminate informal housing areas by expanding access to subsidised mortgage finance.

“Mortgage finance plays a vital role in stimulating the economy, particularly through the provision of affordable housing to low- and middle-income citizens,” El-Kady said.

United Bank currently provides mortgage finance services in 28 governorates, with a special focus on Upper Egypt, as well as active operations across the Canal cities and Delta region. The bank also extends mortgage financing to luxury housing projects.

El-Kady underscored the bank's commitment to digital transformation, pointing to 24/7 digital services that enhance processing efficiency and improve customer experience. Clients can make installment payments via 225 ATMs spread across the country, or through the bank's 68-branch network. Salary transfers and interbank transfers can also be arranged digitally, without the need to visit a branch.

He concluded by highlighting that United Bank's nationwide infrastructure-including services in areas without physical branches-has been essential in extending mortgage finance accessibility and supporting inclusive housing development.

MENAFN21062025000153011029ID1109704320

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.