As part of its strategic plan to enhance performance and diversify funding sources, GlobalCorp for Mortgage Finance (Ollin Finance), a subsidiary of GlobalCorp Financial Services Group, a leading non-banking financial services company, announced the signing of cooperation agreements with 14 banks, Invest-Gate reports.

These agreements secured nearly EGP 4.2 bn in financing over the course of a year, bolstering the company’s capacity to meet the growing needs of clients in the Egyptian mortgage market.

The company also contributed EGP 3 mn to the capital of the Egyptian Mortgage Refinance Company, enabling it to obtain an additional EGP 900 mn in financing, thus supporting its strategy to diversify funding sources and strengthen its financial position.

GlobalCorp for Mortgage Finance (Ollin Finance) has embarked on a comprehensive development strategy based on five main pillars. The plan includes developing operational policies and corporate structures, establishing a flexible credit policy aligned with market requirements, enhancing operational procedures for efficiency and speed, and clearly defining authorities and responsibilities. It also encompasses designing a modern organizational structure to achieve the highest levels of corporate performance.

The company’s efforts are reflected in strong financial indicators, with its mortgage portfolio reaching EGP 3.8 bn during the first 12 months of operation. The number of mortgage clients has reached 1,850.

Additionally, the company increased its capital by EGP 75 mn, bringing the total to EGP 325 mn, which reflects its robust financial position and expanding market presence.

In this context, Mr. Hatem Samir, Co-Founder and CEO of GlobalCorp Financial Services Group, emphasized, “The results we have achieved over the past months confirm that investing in technology, human capital, and building a strong network of partnerships is the path to achieving sustainable leadership.”

He explained that the company is keen to implement its first mortgage securitization transaction in the coming period, which will significantly support diversification of funding sources and strengthen its financial position.

For his part, Mr. Mohamed Abdelwahab, Executive Director of GlobalCorp for Mortgage Finance (Ollin Finance), stated, “The company is working according to a well-thought-out plan aimed at growing the size of its mortgage portfolio and enhancing our financing capabilities by building a strong network of partnerships with banking institutions and various financing entities. What we have achieved over the past twelve months reflects our serious commitment to implementing our expansion strategy on strong and sustainable foundations.”

He emphasized the importance of diversifying investment opportunities and funding sources as a fundamental pillar to support financial stability and meet the growing demand for mortgage solutions.

The company is also investing in an integrated and specialized technology system to manage mortgage operations, ensuring data accuracy and transaction processing speed, thereby supporting a complete digital transformation.

Abdelwahab added, “In a short period, we have achieved tangible results thanks to our integrated institutional efforts and well-thought-out expansion plan. We are focusing on smart expansion through technology and strategic alliances to ensure sustainable growth and deliver added value to our customers and partners.”