{"id":325170,"date":"2022-04-10T18:04:04","date_gmt":"2022-04-10T18:04:04","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=325170"},"modified":"2022-04-10T18:04:04","modified_gmt":"2022-04-10T18:04:04","slug":"tawfik-financial-leasing-expects-net-financing-of-egp-3-5bn-during-2022","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2022\/04\/10\/tawfik-financial-leasing-expects-net-financing-of-egp-3-5bn-during-2022\/","title":{"rendered":"Tawfik Financial Leasing expects net financing of EGP 3.5bn during 2022"},"content":{"rendered":"<p class=\"p1\"><span class=\"s1\">Al-Tawfik Leasing Company aims to increase its market share of new contracts and expects to achieve net financing in the range of EGP 3.5bn by the end 2022.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Tarek Fahmy \u2014 Managing Director and CEO of the company \u2014 revealed that the size of the company\u2019s existing portfolio of financial leasing and factoring alone reached EGP 4bn by the end of 2021.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">In an interview with the company, Fahmy added that the company aims to achieve net financing in financial leasing and factoring at a value of EGP 3.5bn during 2022, noting that the company is focusing on major companies.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">He revealed that the company\u2019s joint financing portfolio amounted to EGP 550m, explaining that these finances are outside the company\u2019s existing portfolio.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Fahmy also said that the total credit facilities obtained by the company from about 21 banks amounted to about EGP 6bn, pointing out that the company is considering obtaining EGP 1.5bn from banks within the coming period, bringing the total facilities to about EGP 7.5bn.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">Furthermore, he noted that the company is studying issuing its third set of securitisation bonds with over EGP 1.5bn in the second quarter (2Q) of this year in three segments, similar to its second set of issuances in 2021, noting that the company\u2019s Board of Directors set the process of issuing securitisation bonds annually within the company\u2019s strategy to maintain the capital adequacy ratio.<\/span><\/p>\n<p class=\"p1\"><span class=\"s1\">In February 2021, the company completed the process of offering its second set of securitisation bonds, which were valued at EGP 1.087bn, with the proceeds of the securitisation process used to enhance the company\u2019s financial position, support future growth plans, and maximise profitability and return on equity.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Al-Tawfik Leasing Company aims to increase its market share of new contracts and expects to achieve net financing in the range of EGP 3.5bn by the end 2022.<\/p>\n","protected":false},"author":4,"featured_media":321461,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22],"tags":[],"class_list":["post-325170","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - 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