Dubai - Mubasher: Amlak Finance sold its subsidiary in Egypt to Al Baraka Bank Egypt at a total value of EGP 400 million (AED 30.80 million), according to a disclosure.

In line with its strategic objectives, the transaction marks the company’s full exit from its operations in Egypt. It will have an impact on the financial position by reducing the retained earnings by AED 94 million, mainly due to foreign currency devaluation (EGP).

The financial impact will take place in the third quarter (Q3) as well as Q4 of 2025.

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

On the buy-side, Capital Markets Advisors, a member of Synergy Capital, acted as the exclusive financial advisor to Al Baraka Bank Egypt, while ALC – Alieldean Weshahi & Partners was the legal counsel and Ledger Consulting Company was the tax advisor.

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,” Hegazy added.

At the end of June 2025, the DFM-listed company recorded net profits after income tax at AED 18.53 million, up from AED 6.99 million in H1-24.