Cairo – Mubasher: Finance Lease activity saw a significant rise by the end of November 2015, as contracts value leapt 183% year-on-year to EGP 17 billion versus EGP 6 billion in the same month of 2014, Financial Supervisory Authority (EFSA) Chairman, Sharif Sami, said on Monday.
Sami added, in a statement, that the number of contracts also increased by 17% to 2,459 from 2,100.
Real estate and land leases topped the ratings with contracts worth EGP 7 billion, or 41% or the total activity, followed by heavy equipment leases with EGP 5.9 billion or 34%, then machinery leases with EGP 1.4 billion or about 8.4% in the above mentioned period.
Sami clarified that the number of finance Lease companies reached 216 in the first 11 months of 2015, versus 214 companies in the same period of 2014.
