By: Islam Fadl
Cairo – Mubasher: Egyptian Arab Land Bank is looking to set up a leasing company with around EGP 50 million to EGP 100 million in capital, chairman Amr Kamal said.
The bank has submitted the new firm’s documents to the Central Bank of Egypt (CBE) and is anticipating the approval over the coming period, Kamal added in a phone call with Mubasher.
It is worth noting that the value of total assets owned by the Egyptian Arab Land Bank fell to EGP 2.4 billion out of EGP 4 billion.
Moreover, assets worth EGP 1.6 billion were sold within six months since early 2018.
