EFG Hermes’ leasing arm targets 25% capital rise

EFG Hermes Leasing, a wholly-owned subsidiary of leading investment bank EFG Hermes Holding, is planning to raise its paid-up capital by 25 percent this year, its chief executive Wael Ziada told Amwal Al Ghad Wednesday.

Ziada said the anticipated capital increase comes in line with the company’s expected rise in leasing activity in the coming period.

EFG Hermes Leasing’s current capital is valued at 100 million Egyptian pounds (US$12.8 million), he added.

Since its inception in June 2015, EFG-Hermes Leasing has captured 4 percent share of the Egyptian leasing market in the third quarter of 2015, to rank ninth.

The company registered third quarter contracts totalling around 153 million pounds.

Leasing services offered in EFG-Hermes Leasing include various sectors, such as technology systems, vehicles, medical equipment, and machinery.