Egy Lease is in talks with other three banks, Banque Du Caire, Emirates NBD, and the Arab Investment Bank, to obtain 150 million Egyptian pounds ($8.5 million) funding, chairman of Egy Lease Iman Ismail told Amwal Al Ghad. The comopany has signed last month a funding agreement of 50 million Egyptian pounds from the National Bank of Egypt. Egy Lease, unleashed by Industrial Development & Workers Bank of Egypt back in last July, has a paid capital amounting to EGP175mln of which 99.9% stake goes to IDWB, and the remainder to Workers Fund. The company's portfolio has reached 140 million pounds, said Ismail, predicting it would get a big boost in 2018 and to become a leading financial lease company in the upcoming period.
