By: Islam Fadl
Cairo – Mubasher: Sakan Finance aims to generate EGP 12 million in profits by the end of 2018 after recording a net profit of EGP 2.5 million last year.
The company has achieved profits of EGP 6 million in the first half of this year, managing director and CEO of Sakan Mahmoud Eid told Mubasher.
Sakan plans to form a separated management to participate in the Central Bank of Egypt’s (CBE) initiative for real estate financing in the third quarter of 2018.
On Tuesday, the central bank agreed to provide EGP 500 million in fresh funds to mortgage finance firms.
Translated by: Mai Ezz El-Din
