EFG-Hermes launches Subsidiary to offer Leasing Services

Egypt’s EFG-Hermes, one of the largest investment banks in the Middle East, announced Sunday that it had launched its wholly-owned subsidiary, EFG-Hermes Leasing.

With an initial capital worth 100 million Egyptian pounds (US$13.1 million), the new company is set to start its leasing operations immediately.

The firm said in a statement the subsidiary would provide leasing services to large corporations and small and medium enterprises (SMEs) across Egypt.