Launch of EFG Hermes Leasing comes as step in the firm's drive to create value for clients, vendor partners and parent company alike through diversification of revenue streams and innovation in offering unrivalled financial solutions.
Cairo, 14 June 2015
EFG Hermes, the leading investment bank in the Arab world, announced today the launch of EFG Hermes Leasing, a wholly-owned subsidiary of the firm specializing in providing leasing services to large corporates and SMEs across Egypt. EFG Hermes Leasing will commence operations effective immediately.
"We are thrilled to be launching our new leasing business, a significant milestone in our drive to diversify our revenue base as we cross sell services and bring on board new clients,all while reinforcing the firm's commitment to expanding our business and activities in our home market of Egypt, " said Karim Awad, CEO of EFG Hermes. "We have identified a financing gap -- affecting both corporations and SMEs -- that we intend to fill, and are offering flexible financial solutions to encourage sustainable growth across a broad range of industries in Egypt."
EFG Hermes has committed an initial EGP 100 million in capital, to be increased to as the leasing business ramps up operations and signalling the firm's confidence in the long-term prospects of the new subsidiary.
EFG Hermes Leasing specializes in offering comprehensive financial leasing solutions and highly sought-after, value-added advisory to help qualified corporations and SMEs meet their business goals. The company also works with an outstanding network of vendor partners and calls on deep industry knowledge in everything from origination to its credit process.
"A key differentiating service offered by EFG Hermes Leasing is our long-term commitment to our clients as service-oriented financial advisers, and not mere providers of funds. With decades of experience and extensive knowledge across geographies and industries, our goal is to meet not only our client's current business needs, but to form long-lasting relationships that meet their future requirements and allow us to create value and grow as our clients and partners do," said Wael Ziada, Executive Chairman of EFG Hermes Leasing and Head of Research at EFG Hermes.
The new EFG Hermes subsidiary aims to deliver the fastest turnaround time in Egypt -- half the time of industry peers -- while incorporating a decision-making process that takes into account a qualitative assessment of the business, its prospects and its character, with a world class system in place designed to match long-term financing with long-term assets and short-term financing for working assets.
EFG Hermes Leasing also benefits from the full support of the leading investment bank in the MENA region, providing leverage through access to more than 30 years of insight into what makes regional markets work.
The new company will be led by Ahmed El-Kholy as CEO, an industry veteran with nearly two decades of experience in the financial leasing industry.
"We want clients to depend on us not just for lease financing but for sound advice across the board, from how to deploy it to how to capitalize on a promising business opportunity. Whether clients are boosting their delivery fleet, kitting out a medical diagnostic suite, or revamping their servers, our expert team understands that growth requires insights, flexibility and timely responses," said Ahmed El-Kholy, CEO of EFG Hermes Leasing. "We have already begun signing contracts despite the company coming into being only four months ago, a strong signal to the market of both our excitement and our proactive approach to entering this promising space."
The company's leasing solutions and financing cover a wide range of diverse sectors and uses, including technology systems (servers, software, user terminals); vehicles for employee transport, delivery and other fleet purposes; medical equipment, from diagnostic suites to full lab setups; and plant and machinery (materials-handling equipment, rigs, barges and generators). The EFG Hermes subsidiary also offers equipment and turnkey solutions for everything from building owners and small developers to communications, construction, alternative energy systems and industrial equipment for manufacturers of all sizes. In parallel with its operational launch, EFG Hermes Leasing is rolling out a new website, accessible at www.efghermesleasing.com
EFG Hermes' entry into the Egyptian leasing sector comes as the firm continues to build a strong pipeline of both domestic and regional investment banking and private equity transactions, including, most recently, the initial public offerings of Orascom Construction on the Egyptian Exchange (EGX) and NASDAQ Dubai, and snack foods maker Edita on the EGX.
About EFG Hermes Leasing
Established in 2015, EFG Hermes Leasing is a wholly-owned subsidiary of EFG Hermes and utilizes the firm's decades of experience across industries and geographies to offer leasing services to high-potential corporations and SMEs across Egypt. The company provides tailored leasing solutions and highly sought-after, value-added advisory to help qualified businesses of all sizes meet their business goals. EFG Hermes Leasing serves as a long-term partner, creating value for clients, vendor partners and parent company alike by innovating in offering unrivalled financial solutions.
For further information about EFG Hermes Leasing, please visit www.efghermesleasing.com.
About EFG Hermes
Established in 1984, EFG Hermes is the leading investment bank in the Arab world and draws on more than 30 years of experience to serve as the preeminent investment bank in the region, providing a comprehensive spectrum of financial services including Investment Banking, Asset Management, Securities Brokerage, Research and Private Equity. Additionally, EFG Hermes owns a 63.7% majority stake in the Lebanese commercial bank Crédit Libanais. EFG Hermes is listed on both the Egyptian and London stock exchanges.
Through its operations in Egypt, Jordan, Kuwait, Lebanon, Oman, Qatar, Saudi Arabia and the UAE, and with more than 800 employees of 25 nationalities, EFG Hermes serves a considerable and diversified client base from the Middle East and North Africa to Europe, Africa and the United States. Our clients include governments, corporations, financial institutions, high net worth clients and individual customers.
For further information about EFG Hermes, please visit www.efghermes.com and stay connected with us:
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EFG Hermes Media
May El Gammal
Head of Marketing
Note on Forward-Looking Statements
In this press release, EFG Hermes may make forward looking statements, including, for example, statements about management's expectations, strategic objectives, growth opportunities and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Hermes' belief regarding future events, many of which, by their nature are inherently uncertain and are beyond management's control and include among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.
© Press Release 2015