Ahmed Al-Khouli CEO of Easy Lease
Easy Lease for financial leasing seeks to strengthen its position in the local market in conjunction with its endeavour to implement an external expansion plan that includes African and Gulf markets in 2024.
Ahmed Al-Khouli, CEO of the company, said the company’s strategy is based on four main axes, which include diversifying its portfolio, enhancing growth rates, increasing profitability, and collection.
Easy Lease has maximised its presence in the local market and is competing with major entities. What are the most important mechanisms you relied upon?
The successes achieved by Easy Lease reflect the clear vision and ambitious goals of the management and shareholders, which were achieved within 18 months to make the company one of the distinguished entities working in the financial leasing industry.
It was agreed on the mechanisms of launching the company through a comprehensive three-year plan that included increasing the financing portfolio and breaking into foreign markets that are full of promising growth opportunities such as Saudi Arabia and Africa.
This is a pioneering success story. What is the modern approach the company has adopted?
The secret to our success lies in the company’s transformation to profitability after eight months of its work in the local market. The company plans to increase the volume of its financing within two years from LE1.7 billion to LE5 billion.
What is the number of the company’s clients? Does the company plan to open lines of credit with the banking sector?
The number of the company’s clients reached 72 in the first year of the company’s work, and we concluded 200 contracts with them, while the volume of leased assets exceeded 1,650 financed assets.
The company opened lines of credit with 14 banks at a value of LE1.8 billion, and it plans to obtain new credit from five banks at a value of LE600 million.
What are the leading sectors in portfolio financing?
Large companies constitute about 72 per cent of the Easy Lease portfolio, compared to 28 per cent for small and medium enterprises.
In terms of the company’s credit map, the real estate development sector occupies the largest share in the portfolio, with 23 per cent. Regarding financed assets, real estate occupies 45 per cent, cars 22 per cent, heavy equipment and operating machinery 18 per cent, and the rest is distributed on medical devices, technology, and machinery.
Is there a current plan to increase capital?
Easy Lease was established in 2021 with a capital of LE50 million, which is currently being increased to LE130 million. The company seeks to increase its capital again to LE180 million next year, which is the maximum capital.
Collection, despite the current market conditions, is proceeding successfully. The default rate does not exceed 0.5 per cent, which is a very small percentage that reflects the success of the credit policies adopted by Easy Lease.
What are the plans to expand at home and abroad?
In its first year, the company was able to be present in several governorates. The company’s funds include five governorates: Cairo, Alexandria, Sohag, Assiut, and the Red Sea.
The company’s vision is to be present in the Egyptian market on a regular basis, but the company’s growth in foreign markets remains our original goal, bearing in mind that our presence in the Egyptian market is focused on financing only, not expanding branches.