United Lease receives EGP1.5bln loans from 8 banks

The United Lease Company has received finances of 1.5 billion Egyptian pounds from 8 banks, CEO Maher Abu Setit said.

He told Amwal Al Ghad that is currently considering the possibility of raising the capital to 100 million pounds from 50 million pounds.

United Lease also considers arranging two joint ventures valued 250 million pounds in the industrial and real estate sectors, the CEO said on the sidelines the Non-banking financing tools fourth conference.

He clarified that the company’s share in this financing will stand at 80 million pounds.