Al Ahly Mortgage Finance targets EGP 7B in financing portfolio by 2025

Updated 9/29/2024 6:28:00 AM
Al Ahly Mortgage Finance targets EGP 7B in financing portfolio by 2025

Arab Finance: Al Ahly Mortgage Finance is aiming to double its financing portfolio to reach EGP 7 billion by the end of 2025, compared to the current portfolio of EGP 3.7 billion, the company's Managing Director Hatem Amer told Asharq Business.

Amer noted that this expansion aligns with the company's strategy to tap into new segments of beneficiaries, particularly in light of the National Bank of Egypt's (NBE) growing support for low- and middle-income groups.

The bank has provided EGP 18 billion in financing for these groups, representing 25% of the total financing from banks and financial institutions.

He also highlighted that Al Ahly Mortgage Finance is launching products tailored to customers' income levels, offering flexible installments and payment terms.

Among the most notable products is Al Ahli Mortgage Finance Win (AMF Win), which allows clients to secure financing against their owned properties, whether residential, commercial, or administrative.

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