To promote financial inclusion

09/01/2019

Ashraf El Kady : Chairman of The United Bank

• The expansion of the mortgage finance portfolio to more than 235 million pounds.
• Entry of a new segment of low and middle-income housing electronically enhances the system of financial inclusion.
• The United Bank is a partner in The Central Bank of Egypt's mortgage finance initiative.
• Supporting Egyptian citizen to start their new life.
• The electronic collection service of the mortgage finance inquiry fees.

Cairo: January 8, 2019

To facilitate mortgage finance's procedures for customers, and save their time and effort, Ashraf El Kady, Chairman of The United Bank, announced the completion of activating of the mortgage financing procedures electronically in all its branches 54 and handing over of apartments' contracts to low and middle-income housing segment.

As the customer in any of the 29 provinces of the Republic can go to the nearest branch of The United Bank 54 branches that are spread throughout the Republic, and complete all required data. The procedures will then be completed and the apartment delivered in a limited period.

The United Bank Mortgage Finance Portfolio

Ashraf El Kady pointed out that the bank's mortgage portfolio at The United Bank reached more than 235 million pounds and covers about 1850 customers nationwide. In response to the efforts of The State and The Central Bank of Egypt to improve the living's standard of Egyptian citizens socially and economically and promotes the real estate market and contributes to a higher level of work and moving the national economy.

The United Bank’s Expansion Plans in Mortgage Finance

Ashraf El Kady pointed out that the plan of The United Bank is to expand its mortgage finance services during the coming year will work on three main aspects: First: It aims to obtain a new segment of the Mortgage Finance Fund to finance housing projects in the new cities.
The second is based on the agreement with the real estate investment companies that have residential projects and the fund's specifications and the conditions of the initiative apply. The bank initiated to provide a residential project in the city of 10th of Ramadan as part of the plan to merge the private sector through the fund's projects.
Third: Expand the provision of mortgage finance services for luxury housing by deepening the concept and advantages of mortgage finance for this segment.

 

 

Supporting the Egyptian citizens to start a new life

Ashraf El Kady said that the mortgage finance initiative aims to support the citizens of the low and middle-income to start their new life. Real estate remains a safe and profitable investment in the long term. While the value of funding decreases and the value of the unit increases over time. As well as being the main motivation to achieve social justice among citizens.

Belonging to the homeland and feeling safe through a healthy home suitable for the citizen will create a motivation to work and strive to improve the social and economic level. As well as relieve pressure and find solutions for slums that have surrounded all the provinces of the Republic and cause many problems.

End