Egypt's Al Ahly raises mortgage finance portfolio to $14mln

Al Ahly owns the largest mortgage finance portfolio in Egypt

  
An employee counts Egyptian pounds at a foreign exchange office in central Cairo, Egypt, March 20, 2019. Image used for illustrative purpose.

An employee counts Egyptian pounds at a foreign exchange office in central Cairo, Egypt, March 20, 2019. Image used for illustrative purpose.

REUTERS/Mohamed Abd El Ghany

Cairo –  Al Ahly Mortgage Finance has raised its mortgage finance portfolio by EGP 1.3 billion by the end of the third quarter (Q3) of 2021.

This brings the total value of the mortgage finance portfolio to more than EGP 2.3 billion during the year, Managing Director Hatem Amer said in a statement on Thursday.

Amer affirmed that Al Ahly owns the largest mortgage finance portfolio in Egypt.

The company's strategy is focused on providing diversified products for individuals and expanding in mortgage finance initiatives as it has dedicated a branch to serve low- and medium-income customers who join the Central Bank of Egypt's (CBE) new mortgage finance initiative.

Source: Mubasher

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