Housing and Development Bank (HDBK) has agreed to secure EGP 400 million financing for HD Leasing, chairman Fatehy El Sebaey said.
This financing will be re-lent in favour of clients of the leasing sector, El Sebaey told reporters.
It is worth noting that HD Leasing is one of HDBK’s investment arms.
HD Leasing has raised its capital to EGP 100 million from EGP 5 million, he highlighted.
The Egyptian lender sealed up to EGP 7.5 billion contracts during January-March period, up 34.6% from EGP 5.6 billion in the same period in 2017.