Cairo – Mubasher: Al Tawfeek for Financial Lease (AT Lease) is targeting new financial lease contracts worth EGP 1.2 billion in 2018, Al Masry Al Youm reported, citing CEO and managing director Tarek Fahmi.
The Egypt-based company is also planning to achieve a net profit of EGP 70 million in 2018, Fahmi added.
The company’s accumulative portfolio has exceeded EGP 6 billion since 2006 until 2017, he noted.
AT Lease could hire banks or other financial leasing firms to participate in arranging mutual financing for huge contracts, the CEO pointed out.
The financial leasing services provider has contracts with 17 banks with credit facilities valued at EGP 3 billion, Fahmi said, adding that the company has used EGP 1.6 billion of these facilities and the remaining EGP 1.4 billion is available for implementing the company’s plan in 2018.
AT Lease is also planning to launch a special sector for the small- and medium-sized enterprises (SMEs), considering the possibility to collaborate with lenders to execute this initiative.
