Arab African Int’l Leasing signs leasing contracts of EGP1.4 bln in H1 2019

The Arab African International Leasing (AAIL), affiliate of Arab African International Bank has signed deals of 1.4 billion Egyptian pounds ($85 million) during the first half of 2019.

A source told Amwal Al Ghad has captured a market share of 3.6 percent by the end of June 2019.

AAIL has started its activity at the beginning of 2015 with paid-up capital of 30 million pounds which has been increased two times in the same year to reach 100 million pounds.

However, the company’s share holders equity posted 200 million pounds in the mean time. It reached a level that allow AAIL finance its future expansion plans.

The total value of  leasing contracts during H1 2019 reached 22.78 billion compared to 16.08 billion pounds during the same period a year earlier with an increase of 41.6 percent. The number of contracts increased from 869 contracts to 1.397 contracts.