Cairo - Mubasher: Fawry Microfinance Company, a subsidiary of Fawry for Banking Technology and Electronic Payments, has provided loans exceeding EGP 1 billion since its establishment in 2018.

Fawry Microfinance’s portfolio grew by 67% year-on-year (YoY) to EGP 437 million in 2021, compared to EGP 267 million, according to a bourse filing.

CEO of the listed Fawry, Ashraf Sabry, said: “We at Fawry Microfinance are proud of our track record in creating tangible opportunities for entrepreneurs and families, allowing them to invest in their futures and promoting the government’s efforts to achieve sustainable growth by expanding marginalised groups’ access to financial services.” 

It is worth noting that during the first nine months (9M) of 2021, the Egyptian listed company reported net profits worth EGP 193.73 million, up from EGP 145.19 million in 9M-20.