ICEC

BM Lease aims to sign deals worth EGP 500 mln pounds

The leasing arm of Egypt’s second state lender Banque Misr, BM Lease seeks to sign new deals worth 500 million Egyptian pounds during the second half of 2018 in different fields.

A source with knowledge said that BM Lease  aims to increase its portfolio to 1.2 billion Egyptian pounds, adding that the company’s credit portfolio has reached 700 million pounds by the end of June 2018.

He told Amwal Al Ghad that the company is keen on diversifying its portfolio to distribute the credit risks, adding that the real estate sector has captured 49 percent of the total portfolio.

Founded in 2017, BM Lease’s shareholders also include Tahia Misr Holding for Financial Investments Company, Misr Capital Investment Company, and Misr Insurance Holding Company.

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