Egyptian consumer finance company BM for Consumer Finance, known as Souhoola and owned by Banque Misr, the country’s second largest state owned bank, plans to issue EGP1.5 billion ($28.8 million) in securitised bonds in 2026, as part of a broader EGP3.5 billion programme, the company's Managing Director, Ahmed Alshanawany, told Zawya Arabic.

Souhoola, which has operated in Egypt since 2019, launched the securitisation programme in 2024, and has already issued EGP1 billion under it, split evenly between EGP500 million in 2024 and EGP 500 million in 2025, Alshanawany said. 

Issuance structure and timeline

“We plan to securitise around EGP1.5 billion in two tranches — the first tranche will be about EGP900 million, and the second around EGP 600 million,” Alshanawany said.

He expects the first tranche to be completed before the end of the current quarter, with the second tranche in the third quarter of 2026.

The company also plans to complete the remaining EGP1 billion of the programme during 2027, he added.

According to Alshanawany, Souhoola aims to increase its financing portfolio, currently valued at EGP5 billion, by about 40% by the end of 2026, and raise its customer base to around 500,000, from 350,000.

Click here to read the article in Arabic.