IncoLease provides credit facilities worth 1.1 billion EGP in 2013
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CAIRO: The International Company for Leasing (IncoLease) has provided credit facilities and contracts worth 1.1 billion EGP ($160 million) in 2013, compared to 800 million in 2012, Managing Director Yahya Nour revealed Tuesday.

Many sectors such as industrial, commercial and medical sectors, in addition to other activities, have received credit facilities from IncoLease, said Nour in a Tuesday statement.

“IncoLease did not reject financing of a certain sector, but providing finance depends on the enterprises’ market share, reputation, and financial results,” Nour added.

The tourism sector did not obtain financing during 2013 due to the current problems it witnesses, preventing owners of tourist projects to apply for getting finance to implement any expansions or new projects, Nour said.

According to the financial results of IncoLease, the company netted 71.771 million EGP last year, compared to 65.02 million EGP in 2012, marking 10.38 percent growth.

Originally published in Youm7.

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