MLF” Financial Company for non-banking financial services achieved a net profit of 42 million pounds in the first half of this year, compared to 43 million pounds achieved in 2021 despite its recent establishment. Dr. Ahmed Zahran, CEO of the company, said that the total portfolio available to it reached 3.2 billion pounds by the end of the first half of this year. And he stressed – in exclusive statements to Al Mal – that the company achieved a net profit of 42 million pounds during the first half of this year, compared to 43 million achieved during the whole of 2021, which confirms the growth of the company’s business even though it was established only two years ago. He continued, “The company will continue its financing policies during the current year, and it expects to achieve profits of approximately 100 million pounds by the end of this year. Regarding the financing portfolio during the first 6 months of 2022, he indicated that the factoring arm controlled funds worth 1.098 billion pounds. As for the real estate financing arm, it achieved a portfolio of financings close to 983 million, financial leasing recorded financings in the range of 591 million, and finally, consumer finance revolved its portfolio near 6 million. Thus, the total value of the financing amounted to 2.978 billion. A plan to distribute $40 million to shareholders in 2023, with a return on capital of 26%He continued: “We intend to distribute profits of 40 million pounds next year, with a return rate of 26%, which is a very high rate and reflects the company’s development and the shareholders’ confidence in the executive management.” He stressed that the company is continuing its plan to list and offer a share of its shares on the stock exchange, and the process is likely to be completed after a year and a half. He pointed out that his company obtained approvals from 13 banks to provide loans and credit facilities in the range of 2.5 billion pounds, in addition to 150 million available from the Egyptian Real Estate Refinancing Company (EMRC), which means that MLF does not need to enter new shareholders in the coming period, and it has solvency. Strong finances enhance its ability to expand. He noted that the company takes the credit decision for clients within only 10 working days, indicating that it follows a policy in selecting clients and with large financing volumes. He touched on the expansion of “MLF” in granting finance through financial leasing for the benefit of local industrial companies, including those working in the fields of food and medicine. During 2021, MLF achieved a net profit of 43.02 million pounds, a growth of nearly 137% over the achieved in 2020, which was estimated at 18.12 million. “M.L.F” company for non-banking financial services was established in 2020 under a partnership between “Zahran” and 6 major investors, led by businessman Sameh Sawiris, and the list of shareholders includes Eng. Nehad Ragab, President of “SIAC” Holding Company, and Eng. Fathallah Fawzy, Vice President of the Association of Egyptian businessmen, head of the Construction and Building Committee, as well as Eng. Mohamed Idris, CEO of Mebane Idris Real Estate Company, Eng. Khalil Kandil, President of Kandil Glass Company, and Ahmed Zahran, who has experience in banking and non-banking business that extends to more than 30 general. The list of MLF founders also includes Eng. Mohamed Hassan Al-Durra, Chairman of the Board of Directors of Al-Durra Real Estate Development Company, and Omar Al-Durra, Managing Director of Al-Durra Real Estate Development Company. The Financial Supervisory Authority recently revealed the harvest of non-bank financial services during the first half of this year. In terms of financing activities, real estate financing achieved a remarkable activity, as the volume of financing granted by real estate financing companies amounted to 7.3 billion pounds, compared to 3.1 billion during the same period. From last year, a growth rate of 135.5% in the value of contracts. As for financial leasing, the number of financial leasing contracts reached 1,664 during the first half of 2022, worth 41.6 billion pounds, compared to 1,832 contracts worth 35.6 billion during the same period last year, with a 9.2% decrease in the number of contracts, and a 16.7% growth in the value of contracts.]As for factoring activity, the volume of debit balances amounted to 12 billion pounds for 482 local companies at the end of June 2022, compared to 8.4 billion pounds for 398 clients, with a growth rate of 43.1% in the volume of balances, and 21.1% in the number of companies.