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Monday, 5 April 2021

NBFS player MLF plans to increase portfolio to EGP 2 bn in coming year

Non-banking financial services player MLF Finance is seeking to double the size of its portfolio to EGP 2 bn by the end of 2021, CEO Ahmed Zahran told Al Mal. The company also completed a EGP 200 mn capital increase, which it funded through issuing new stock to new and existing shareholders at a 40% premium.

About MLF: Zahran set up MLF a little over a year ago with Samih Sawiris and five other business figures to provide mortgage financing and factoring services. The company is licensed under a mechanism the Financial Regulatory Authority had launched allowing NBFS firms to provide these services under a single license.

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