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Egypt's Nasser Social Bank realizes unprecedented results in Q3 of 2017-2018 FY

Performance indicators showed that Egypt's Nasser Social Bank realized unprecedented results in the third quarter of the 2017-2018 fiscal year in comparison with the corresponding period last year, the Egyptian social solidarity minister said.

Ghada Wali said the bank spent LE 560 million for social solidarity activities until the end of March 31, 2018, marking a LE 176 million rise in comparison with the same period last year.

About 1.2 million people benefited from the social solidarity funds. About 23,000 got aids in cash and in kind and bout LE 7 million went to supporting the health sector, she said.

The bank provided about LE 175 million in interest-free loans for low-income strata, at a LE 70 million rise compared to the same period last year.

About 30,000 people benefited from the loans, she said.

About 72,000 low-income people got housing finance grants at LE 3.522 billion. 

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