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Thursday, 6 May 2021

EFG’s leasing and factoring ambitions

EFG Hermes Corp-Solutions plans to grow its leasing and factoring portfolio by EGP 3 bn in 2021, CEO Talal Elayat told Al Mal, according to a report in the newspaper’s print edition this morning. The company signed leasing and factoring agreements worth EGP 1 bn in 1Q2021, bringing its total portfolio to EGP 6.1 bn as of March, Elayat said.

The firm plans to get in on margin lending and has been contacting its network of brokerages to get a leg up in the industry as soon as the Financial Regulatory Authority issues further regulations expounding on how NBFS players will be allowed to finance margin trades.

What is factoring, you say? Check out our handy explainer.

Want more? We sat down with Elayat in February to discuss debt market conditions, the state of the NBFS sector, and EFG Hermes Corp-Solutions’ plans for the future.

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