EHFC - What does EHFC stand for? The Free Dictionary
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will continue to operate as an independent unit of the Egyptian bank, with all of its employees and the management team keeping their positions.
EHFC, established in 2004, is one of the largest mortgage companies in terms of operations in the Egyptian market.
On the other hand, Hala Bassiouni, Managing Director of EHFC mentioned that EHFC Board of Directors has approved to double the company's capital to reach $100 million, allowing the company to extend its services to larger number of clients.
In 2006, CrE[umlaut]dit Agricole Egypt increased its stake in EHFC from 40 percent to 50 percent by buying the Bank of Alexandria's stake.
With a capital of LE 50 million, EHFC was established in 2004 with the purpose of offering Egyptians loans to purchase real estate as well as developing the housing sector in Egypt.
Managing Director Hala Bassiouni said the company's board has approved doubling its capital to LE 100 million.