GB Lease has acquired a market share of 16.4% in January 2017, with funds of EGP 271.16m compared to EGP 128.36m in January 2016, a market share of 13%, according to the chairperson and managing director of GB Lease, Amal Ragheb.
She said that the company ranked third among leasing companies operating in the Egyptian market, with 144 contracts and funds of EGP 2.3bn in 2016, along with about 164 contracts worth up to EGP 1.12bn in 2015.
Ragheb stressed her company’s keenness to expand in the Egyptian market during the current period through providing adequate funding for many vital sectors that support the Egyptian economy. She pointed out that the company’s funds are directed to major projects as well as to small and medium-sized enterprises (SMEs), to which the state pays more attention in the current period.
Ragheb predicted that local leasing would achieve further growth in the coming period due to the fast spread of a financial leasing culture. She noted that the leasing market recorded a total of about 2,325 contracts worth EGP 21.5bn in 2016, compared to 2,720 contracts worth EGP 19.4bn in 2015. This means that leasing activity maintains a strong annual growth in Egypt.