GB Lease signs 6 contracts of EGP 594 mln in October

Egypt’s GB Lease Company signed on Sunday six leasing contracts worth 594 million Egyptian pounds ($33.1 million) last October to capture 30 percent of the market share.

GB, part of Ghabbour Auto, captured 10.45 percent of the market share during the January-September 2018 period, Egyptian Financial Supervisory Authority (EFSA) revealed in a recent report.

“Leasing contracts rose to 11.1 billion pounds during the July-September 2018 period,” EFSA announced.

In October, 171 leasing contracts reached 1.995 billion pounds, compared with 123 contracts worth 2.738 billion pounds during the same months in 2017.