Global Lease has become the second become the second largest leasing company in Egypt less than a year after its founding with a particularly active three-month period at the start of 2016, according to a report published by the Egyptian Financial Supervisory Authority (EFSA).
Global Lease CEO Hatem Samir said that the company managed to secure 12.75% of the lease financing market share in the first quarter of 2016, concluding 26 deals valued at EGP 712m.
He added that the development in Global Lease’s performance is not only due to its increased leasing portfolio, but also to its ability to reflect on all profit ratios, control costs, and manage liquidity. “All this proves that Global Lease is a comprehensive institution targeting a sustainable growth for its stakeholders.”
Global Lease aims to develop and diversity its portfolio with limited risk regardless of meeting targets such as acquiring larger shares of deals in the lease financing market, Samir explained.
“The company has high calibre and skilled staff working in lease financing, marketing, credit, risks analysis and money management,” he said. “Global Lease is not only well-qualified to provide financing but also to advise clients through feasibility studies and generating innovative ideas which help reduce risks.”
According to Global Lease’s Deputy Chief Executive Officer for Risk Management Hisham Abdel Fatah, GL’s portfolio increased from EGP 290m to EGP 712m at the end of the first quarter of 2016. “The strategy dictates diversified and quality portfolio to minimise concentration and limit the inherited risks in such a fluctuating economic environment,” he explained.
Abdel Fatah noted that the financing provided to real estate developers was preeminent in the first quarter, while a fairly large number of deals have been signed with firms working in service industries ranging oil and logistics to manufacturing.
Global Lease is a subsidiary of the Wadi Degla Holding Company. It was established in cooperation with SANAD Fund, an affiliate with the KFW Development Bank. Wadi Degla Holding Company owns a 68% stake in Global Lease, while the SANAD Fund owns 30%, and 2% is owned by other shareholders.