NBE funds for medium-sized leasing firms hit $338mn

The total funds of National Bank of Egypt (NBE) for medium-sized leasing firms hiked to 2.650 billion Egyptian pounds (US$338.4 million) at the end of November 2015 versus 2.137 billion pounds a year earlier.

Speaking to Amwal Al Ghad, Sheirf Riad -head of corporate banking- stated Monday that the bank is dealing with a number of  leasing companies notably; International Company for Leasing S.A.E. (Incolease), QNB Alahli Leasing Company, A.T. Lease, Corporate Leasing Company Egypt (CorpLease), Plus Leasing, Raya Leasing Company, Al Ahly Leasing Company (ALC),  and ORIX Leasing Egypt SAE (OLE).

National Bank of Egypt is studying pumping 5.9 billion pounds into around 48 clients in medium-sized enterprises sector within the coming period, the official said.

Riad stated that the total volume of NBE’s direct and indirect portfolio of medium-sized enterprises reached 18.933 billion pounds at the end of November 2015 opposed to 18.231 billion at the end of June 2015.