Al Tawfeek Financial Lease’s Assets Registered EGP 3.2 Bln In August

Al Tawfeek Company for Financial Lease’s assets registered EGP 3.2 billion at the end of last August, up from EGP 2.6 billion at the end of 2011, with an increase of EGP 600 million.

The Company succeeded in being the top company for financial lease in Egypt despite the turmoil the country has witnessed, said Ashraf El-Ghamrawy, CEO of Al Baraka Bank Egypt which owns 10% stake in the Company.

Al Tawfeek Company targets to expand its branches network in Egypt, El-Ghamrawy said, adding that the Company has opened a new branch in Alexandria last month.

Sources earlier told Amwal Al Ghad that the United Bank approved to provide sharia-compliant finance worth EGP 90 million for Al Tawfeek Company for Financial Lease.