Living up to our name
Tanmeyah was formed to fill a major gap in Egypt’s social and economic growth: despite our country’s young and vibrant population, the majority of Egyptians and almost 90% of Egyptian businesses are considered “un-bankable” by major financial institutions. These business owners are cut off from the funds they need to grow their businesses and create jobs, denying their communities the means of improving their standard of living.
An ongoing success story
Tanmeyah’s expansion has continued. Reaching people without access to financial services means bringing the financing to them, and we continue to open new branches in the centers of towns and communities around Egypt, near the businesses of our customers. We have expanded our services, invested in fintech to reach customers on their mobile devices, and established core banking services that not only help us reach our customers but also provide a platform for other financial institutions to reach populations they have traditionally overlooked. In 2019, through 268 branches nationwide, Tanmeyah provided loans to over 360,000 borrowers at a total value of EGP 3.2 billion.
Tanmeyah has lived up to its name, remarkably growing its services and geographic scope in its short history and proving itself resilient to political and economic turbulence along the way. But the real growth story is the success of the businesses and customers that have chosen to work with Tanmeyah.
Tanmeyah is founded and 38 branches are established in Cairo and the Delta, serving 16,000 customers.
Tanmeyah’s network of branches grows to 88 across Egypt, revenues top EGP 28.1 million, and the number of customers surpasses 69,000.
Tanmeyah reacts quickly to the political and economic turmoil of the 25th of January Revolution, retaining its employees by refraining from lay-offs and salary cuts. It increases its invested capital to EGP 50 million, works to reduce loan risk below 5%, and invests in staff training. Remarkably, Tanmeyah grows to 94 branches across Egypt.
Tanmeyah grows to 105 branches across Egypt, primarily through expansion in Upper Egypt, building 10 new branches there. Hiring and training of staff also expands and the number of employees to more than 1,400. The number of customers reaches 80,000 with a loan portfolio value of EGP 247 million.
The value of loans issued reaches EGP 458 million for 70,000 customers, with an outstanding loans value of EGP 285 million.
The value of loans issued skyrockets to EGP 623 million with the issuance of 82,738 loans. Tanmeyah ends the year with 87,500 active borrowers and EGP 380 million in outstanding loans value.
The number of loans issued climbs to 108,203 at a total value of EGP 868 million, accompanied by a notable growth in the number of branches to 114 nationwide.
The number of loans issued reaches 96,631 with a total value of EGP 882 million. The number of borrowers reaches 96,004, serviced through 119 branches nationwide.
The number of loans issued grows significantly to 179,165 at a total value of EGP 2,039 million, while the number of borrowers increases to 166,649 and branches to 150 nationwide.
The number of loans issued increases to 308,146 at a total value of EGP 4.43 billion, accompanied by notable growth in borrowers to 292,605 by the end of the year, serviced through 248 branches nationwide.
The number of loans issued increases to 351,321 at a total value of EGP 3.2 billion, accompanied by notable growth in borrowers to by the end of the year, serviced through 268 branches nationwide.