Egypt’s Nasser Social Bank sets FY 2026/27 draft budget at EGP 44.7bn

“Egypt’s Nasser Social Bank has drafted a budget of EGP 44.7bn for the fiscal year (FY) 2026/27, an increase from the revised EGP 43.8bn for FY 2025/26, as the institution aims to expand social protection programmes and microfinance. The financial plan was outlined during a board of directors meeting at the bank’s headquarters, chaired by Maya Morsy, Minister of Social Solidarity and Chairperson of the bank, alongside Vice Chairperson Waleed El-Nahas. Morsy stated that the budget relies on strategic pillars, primarily enhancing social responsibility by supporting the most vulnerable groups as part of the bank’s core identity. It targets economic empowerment through expanded retail banking and financing for small and micro-enterprises, alongside accelerating digital transformation by upgrading information technology systems to match developments in the Egyptian banking market. The draft budget aligns with the state’s general budget framework, Morsy added, adhering to principles of comprehensiveness, transparency, and the full disclosure of available resources. It also emphasises rationalising expenditure to ensure effectiveness without compromising the bank’s socioeconomic responsibilities. During the meeting, the board reviewed findings from the audit, investment, and social committees. Morsy noted these committees are preparing a strategic plan to widen the bank’s social solidarity umbrella, targeting those most in need to improve their quality of life and alleviate living burdens. Vice Chairman El-Nahas presented a summary of the financial indicators and the bank’s financial position for the third quarter of FY 2025/26, ending on 31 March 2026. El-Nahas stated that investments witnessed a notable surge, driven by a strategic vision to expand financial and social services alongside development funding tools. The bank’s investments are diversified across the stock market, securities portfolios, mutual funds, and direct investment. He affirmed that the bank directs returns from its investment sector to support social solidarity programmes and vulnerable families. Special attention is given to female breadwinners through accessible financing for sustainable small projects, a strategy El-Nahas said converts investment returns into a tool for sustainable economic stability and social impact. The post Egypt’s Nasser Social Bank sets FY 2026/27 draft budget at EGP 44.7bn first appeared on Dailynewsegypt .

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