February 23, 2021

Nasser Social Bank provides EGP 19.6B in loans


ArabFinance: State-run Nasser Social Bank registered net loans worth EGP 19.6 billion during the first half (H1) of fiscal year (FY) 2020/2021, according to a February 21st Cabinet statelent.

This marked a 22% growth from EGP 16.11 billion during the July-December 2019 period, Nivine el Kabbag, chairman of the bank and the social solidarity minister said.

The bank’s budget stood at EGP 25.15 billion in H1 2020/2021, rising 13% annually from EGP 22.24 billion.

Retail customers’ saving vessels amounted to EGP 11.42 billion, growing by 30% from the total balance of EGP 8.75 billion in H1 2019/2020.

The estimated budget of Nasser Social Bank for FY 2021/2022 reached EGP 27.75 billion, up by 6% or EGP 1.46 billion from EGP 26.29 billion for the current FY.

The bank previously supported the country's health sector with EGP 21.68 million during FY 2019/2020.

arabfinance


Categories : banking

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