Kareem El-Battouti, Executive Director of Tamweel Mortgage Finance, stated that the company injected EGP 3.75 billion in financing by the end of 2022.
In exclusive remarks to Amwal Al Ghad, he explained that the company’s current loan portfolio amounted to EGP 3.2 billion, while the cumulative portfolio reached approximately EGP 7 billion.
As part of the company’s expansion and portfolio growth strategy, he noted that over EGP 2.5 billion worth of mortgage portfolios were generated last year.
Regarding geographic expansion, El-Battouti added that the company’s headquarters is located in Garden City, and it inaugurated its first branch in Sheikh Zayed in January 2023. He also mentioned that the company aims to open a new branch in New Cairo by the end of 2023.
He pointed out that the number of clients reached 3,700 since the company’s inception until the end of 2022, targeting broader customer segments in 2023.
El-Battouti stated that the company achieved net profits exceeding EGP 100 million in 2022 and aims to increase net profits further in 2023.
Moreover, the company captured the largest share of the mortgage finance market, holding a 22.93% market share during the first eight months of 2022, according to the Financial Regulatory Authority.
He emphasized that the company follows an expansion strategy in 2023 by continuing to grow its financing volume, opening new branches in Cairo, strengthening relations with real estate developers and portfolios, and aligning with the state’s strategy to promote digital transformation and green financing.
