Cairo – Mubasher: Egypt's financial leasing activity rose 5% in the first ten months of 2016, said Sherif Samy, the chairperson of the Egyptian Financial Supervisory Authority (EFSA) in a statement on Monday.
The value of contracts reached EGP 16.7 billion by the end of October compared with EGP 15.9 billion earlier, while the number of contracts decreased to 1,964 from 2,216 ones.
The real estate activity topped with the list with contracts worth 11.8 billion to account for 70% of the total activity.
In second place, machinery and equipment contracts represented 9% of the total financing after registering EGP 1.5 billion contracts, followed by car contracts at EGP 1.4 billion.
The number of financing firms grew to 223 entities in October, compared with 219 companies for the year-ago period.
In 2015, the authority indicated that total financial leasing activities registered a net of EGP19.4 billion, higher 177% year-over-year from EGP7 billion.
