Cairo – Mubasher: Egypt's financial leasing activity grew during January–July 2016 by 14% year-on-year to EGP 12.9 billion from EGP 11.3 billion, said Sherif Samy, the chairperson of the Egyptian Financial Supervisory Authority (EFSA(.
The real estate and land transactions represented 72% of the total financial lease contracts at EGP 9.3 billion, followed by machines and equipment (+9%) at EGP 1.2 billion, and then trucks with a rise of 8.4%.
The number of lease companies registered with the authority increased during the first seven months to 27 from 23 for the year-ago period.
Mortgage financing in the same period stood at EGP 564 million, compared with EGP 586 million for the prior-year period.
Earlier, the authority reported that the leasing activity saw a slide in the first quarter of 2016 by 20% year-over-year to EGP5.6 billion from EGP7 billion.
