Arab Finance: Reefy Microfinance Enterprise Services has granted financing amounting to EGP 4 billion in 2024, bringing the total financing to EGP 20 billion, as per an emailed press release.

The value of financing granted in 2024 accounted for 20% of the total financing announced since the company's inception.

Meanwhile, the total customer portfolio hit EGP 3.2 billion by the end of December 2024, while the average loan value increased by 23% to EGP 36,400.

Total operating revenues climbed by 27% to EGP 1.84 billion in 2024, whereas the net profits reached EGP 374 million, marking the highest return on equity rate of 78.1%.

Reefy inaugurated 23 new branches, bringing the total number of its branches by the end of 2024 to 185 across 21 governorates.

The company witnessed solid growth despite the economic challenges, most notably the increase in interest rates by 800 basis points at the beginning of 2024.

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