Banque Misr’s leasing arm to up its funding at year-end

The leasing arm of Egypt’s second state lender Banque Misr aims to increase its funding portfolio up to around one billion Egyptian pounds ($55.8 million) at the end of this year.

BM Lease’s total estimated portfolio currently accounts 700 million pounds, said its managing director Hisham Sheta on Monday.

“Real Estate has recently become one of Egypt’s most active sectors,” Sheta stated, referring that the company’s portfolio includes various sectors without focusing on a specific one.

Founded in 2017, BM Lease’s shareholders also include Tahia Misr Holding for Financial Investments Company, Misr Capital Investment Company, and Misr Insurance Holding Company.