BM Lease injects EGP500mln joint financing in 9 months

The leasing arm of Egypt’s second state lender Banque Misr, BM Lease has secured 500 million Egyptian pounds joint financing  in cooperation with companies and banks in the first 9 months of 2019,  its managing director Hisham Sheta said.

He further told Amwal Al Ghad that the finances have been injected into many sectors, mainly real estate development, contracting and mass transportation.

He further noted that the company has signed leasing deals of 830 million pounds since the beginning of the current year to the first quarter of 2019.

Founded in 2017, BM Lease Company has an authorised capital 500 million pounds and paid in capital of 100 million pounds.

The company’s shareholders include Banque Misr, Tahia Misr Holding for Financial Investments Company, Misr Capital Investment Company, and Misr Insurance Holding Company.