The central bank clarifies … details of the repayment of individual loan installments for a period of six months

The Central Bank of Egypt has clarified that the individual loan installments that were taken advantage of from the decision put forward by the bank for a period of six months have been postponed, so the value of the loans amounted to nearly 358.5 billion pounds, until the end of last December of 2019.

Details of deferring the installments of individual loans for a period of six months:

Where the Central Bank decided to postpone all credit entitlements for clients in terms of institutions and individuals, including loans for consumer purposes or real estate loans for personal housing, for a period of 6 months based on the decision.

And that decision came among the preventive measures that were taken in order to face the effects of the emerging Corona virus, as the 19th global epidemic virus, as part of the follow-up of the banking market conditions on the sectors benefiting from the delay in loan installments.

Also, the funds are divided into four sectors, namely the credit card sector, the personal loan sector, the car loan sector and the real estate loans sector, and the ratio of irregular loans is not more than 3.5%, where it is 12.6 billion pounds, out of the total individual loans in all Egyptian banks.

Then personal loans accounted for 78% of the total individual loans in the amount of 280 billion pounds. As for the real estate sector loans, it came in second place to record 35.3 billion pounds. As for car loans, it amounted to 24.5 billion pounds, and in respect of credit card loans amounted to 18.7 billion pounds.

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