Al Ahly Mortgage acquires 34.4% of Egypt’s mortgage finance market

The company provided funds worth $14.6mln during the first two months of the year

  
Traders work at the Egyptian stock exchange in Cairo February 2, 2014.

Traders work at the Egyptian stock exchange in Cairo February 2, 2014.

REUTERS/ Mohamed Abd El Ghany

ArabFinance: Al Ahly Mortgage Finance (AMF) acquired 34.4% of Egypt’s mortgage finance market in January and February 2021, according to a recent statement by the Financial Regulatory Authority (FRA).

The company provided funds worth EGP 229.8 million during the first two months of the year.

Tamweel Group ranked second, accounting for 15.1% of the market share, and EGP 132.8 million in funding.

On the other hand, Taamir Mortgage came in third place, accounting for 12.1% of the market share with a funding portfolio of EGP 106.1 million.

AMF is a subsidiary of the National Bank of Egypt. The company has a capital of EGP 250 million. It offers various financing systems to those wishing to own residential, administrative and commercial units.

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