Egyptian Arab Land Bank secures $116.4 mln for 15 leasing companies

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State-run Egyptian Arab Land Bank (EALB) pumped 2 billion Egyptian pounds ($116.4 million) in finances for around 15 leasing companies, said an official source in the bank on Sunday.

The 15 leasing companies include Altawfeek Leasing, EG-Lease, BM Lease, Corplease, and Incolease, the source further told Amwal Al Ghad.

EALB has dropped plans to set up a leasing arm due to some changes in the bank’s strategy based on focusing on providing leasing services through the firms it deals with, the source added.

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