Credit Agricole’s mortgage arm achieves $30.6mn funds in 2015

Credit Agricole Egypt’s mortgage company Egyptian Housing Finance Co. (EHFC) declined by 14 percent to record finances of 240 million Egyptian pounds ($30.6million) in 2015.

According to the company’s financial results,   the company’s net profit after taxes registered 9.7 million Egyptian pounds in 2015 compared 8.5 million Egyptian pounds in 2014.

EHFC is 100% owned by Credit Agricole Egypt (CAE). It is considered to be the first private sector mortgage company in Egypt. Incorporated 2004 with an initial authorized capital of EGP 300,000,000 and paid up capital EGP 100,000,000.

In 2015, the mortgage finance sector has witnessed a considerable growth to register 981 million Egyptian pounds with a total increase of 70%.