Social Housing and Mortgage Finance Fund & Bank NXT Sign Cooperation Protocol to Expand Affordable Housing Finance

Table of Contents

Cairo, October 5, 2025:

The Social Housing and Mortgage Finance Fund (SHMFF) signed a cooperation protocol with Bank NXT to expand joint efforts and increase financing capacity for applicants under the Fund’s housing initiatives. The agreement was signed by Mai Abdel Hamid, CEO of SHMFF, and Tamer Seif El Din, CEO and Managing Director of Bank NXT.

The ceremony was attended by senior representatives from both sides, including Hala Ghazi, Deputy CEO of SHMFF, and Omnia El-Maadawy, General Manager of the General Support Department. From Bank NXT, attendees included Iman Badr, Deputy CEO of Consumer Banking, Marketing, and Financial Inclusion; Amr Gamali, Deputy CEO Business; Tamer Ahmed Mostafa, Senior Director Business and Sustainable Development; and Mostafa El Shazly, Head of Mortgage Finance.

Importance of the Protocol

Following the signing, Mai Abdel Hamid emphasized that Bank NXT is a key partner in providing mortgage finance solutions for low- and middle-income citizens. She highlighted that the protocol supports access to residential units under the Presidential Initiative, “Housing for All Egyptians.”

She noted that over 2.1 million applicants have applied for housing units under SHMFF’s programs. This prompted the Fund to upgrade its digital platform to streamline mortgage procedures, which will be announced soon. She added that the new protocol renews the agreement signed on August 1, 2023, and increases the financing limit to EGP 2 billion, compared to EGP 800 million under the previous agreement.

Bank NXT’s Role

Tamer Seif El Din explained that the protocol aligns with the Presidential Initiative and the Central Bank of Egypt’s mortgage finance programs. It encourages banks to expand financing for low- and middle-income citizens. He stressed Bank NXT’s commitment to social responsibility and economic development by providing long-term financing at subsidized rates, ranging from 3% to 8% for up to 30 years.

He revealed that Bank NXT financed 11,785 clients through previous initiatives. The bank’s mortgage portfolio grew to EGP 2.6 billion by September 2025, compared to EGP 1.5 billion in September 2024, a growth rate of 73%. Of this portfolio, 75% targets low-income financing, while 25% targets middle-income financing. Bank NXT is among the top 10 banks participating in mortgage initiatives, with one of the fastest-growing portfolios in the market.

Streamlined Services for Citizens

Bank NXT launched a fully dedicated administrative center, the “Sales & Mortgage Hub,” at Bandar Mall in Maadi. The hub centralizes all mortgage services, providing a one-stop solution for citizens and simplifying access to procedures.

Both parties confirmed their commitment to deepening cooperation. They expressed their vision for continued collaboration to further support low- and middle-income citizens in securing housing units under SHMFF’s programs.

About Bank NXT

Bank NXT (formerly aiBANK) was established in 1974 as an investment and business bank and started operations under the supervision of the Central Bank of Egypt in 1978 with a capital of USD 40 million.

The bank grew its capital to EGP 1.987 billion in 2020. Following the acquisition in 2021, paid-up capital increased to EGP 5,000,000,003, with an ownership structure of:

• EFG Holding S.A.E – 51%

• Egypt’s Financial Services and Digital Transformation Sub-Fund – 25%

• National Investment Bank – 24%

In March 2024, the general assembly approved further capital increase to EGP 5,400,000,006.

Bank NXT offers retail banking for individuals and corporate banking for businesses, including syndicated loans for national projects. It supports small and medium-sized enterprises, provides investment and treasury services, and offers Islamic banking services. The bank operates 36 branches nationwide and continues to expand its ATM network.

Learn more: www.banknxteg.com
Contact: Reham Abbas, Head of Public Relations, Bank NXT – rabbas@banknxteg.com

About EFG Holding

EFG Holding (EGX: HRHO.CA – LSE: EFGD) operates in seven countries across two continents. It includes three verticals: EFG Hermes (Investment Bank), EFG Finance (Non-Bank Financial Institutions), and Bank NXT (Commercial Bank).

EFG Hermes, the leading investment bank in MENA, offers advisory, asset management, brokerage, research, and private equity services. EFG Finance provides integrated financial solutions through Tanmeyah, EFG Corp-Solutions, Valu, Bedaya, Kaf, and EFG Finance SMEs. Bank NXT delivers integrated retail and corporate banking solutions in Egypt.

Proudly present in: Egypt | UAE | Saudi Arabia | Kuwait | Bahrain | Kenya | Nigeria

In this context, on the other hand, there are many related sector news items that you can follow. For example, we highlight the most important ones in the following list:

Cooperation Protocol signed between Social Housing and Mortgage Finance Fund and aiBANK

aiBANK Signs Partnership Agreement with Visa to Enhance its Digital Payments