Arab Finance: UAE-based Amlak Finance fully exited its operations in Egypt after selling its subsidiary Amlak Finance Egypt to Al Baraka Bank Egypt for EGP 400 million (AED 30.8 million), as per a disclosure.

The transaction aligns with the DFM-listed company’s strategic objectives.

It will affect its financial position by reducing the Emirati company's retained earnings by AED 94 million, mainly due to foreign currency devaluation (EGP).

This financial impact is expected to occur during the third quarter (Q3) of 2025 and Q4 2025.

As per an emailed press release, Capital Markets Advisors, a member of Synergy Capital, acted as the exclusive financial advisor to Al Baraka Bank Egypt, while ALC – Alieldean Weshahi & Partners served as the legal counsel and Ledger Consulting Company as tax advisor.

Meanwhile, Al Ahly Pharos Investment Banking acted as the exclusive sell-side financial advisor to Amlak Finance PJSC, while Al Tamimi & Company acted as the sell-side legal advisor.

Commenting on the acquisition deal,  Hazem Hegazy, CEO and Vice Chairman of Al Baraka Bank Egypt, stated, “This acquisition represents a significant step forward in Al Baraka Bank Egypt’s growth strategy, enabling us to further expand our presence in the Egyptian mortgage financing market. It also adds a new entity to the Bank’s non-bank financial institutions (NBFI) portfolio, further enhancing its suite of Sharia-compliant products and services. This move is also in line with the Bank’s strategy to expand in the non-banking financial services sector, which forms an integral part of Al Baraka Banking Group’s overall strategy in Bahrain."

For his part, Ahmad Salameh, CEO of Amlak Finance Egypt, commented: “This agreement underscores Amlak Finance’s commitment to executing its strategic objectives. We are proud of Amlak Egypt’s growth and achievements and believe that Al Baraka Bank is well-positioned to support its next phase of development.”

Meanwhile, Al Baraka Bank Egypt recently unveiled plans to acquire a majority stake in Al Tawfeek Leasing Company through a mandatory tender offer (MTO).

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