Banque Misr’s leasing arm seeks contracts of EGP1.2bln inn 2019

BM for Financia Leasing, owned jointly by Banque Misr, the Insurance Holding Co. & Long Live Egypt Fund, is set to sign new contracts of 1.2 billion Egyptian pounds during 2019.

Its managing director Hisham Sheta told Amwal Al Ghad that the company’s total contracts have increased to more than 1.2 billion pounds during 2018.

“Real Estate has recently captured  most of the company’s portfolio ,” Sheta stated.

BM Lease has recently signed a deal with Banque Misr worth 500 million Egyptian pounds to fund small and medium sized enterprises as part of Central Bank of Egypt initiative.

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.