Beltone Financial Holding, a dynamic and rapidly growing investment bank, is delighted to announce a significant milestone achieved by its wholly-owned subsidiary, Beltone Leasing Company. The Financial Regulatory Authority has granted final approval for the addition of Factoring to the Company’s portfolio, allowing it to emerge as a fully-fledged alternative finance provider.
The decision to diversify its lines of business comes in response to the escalating demand for immediate access to cash flows and alternative sources of finance, particularly among medium and large-sized corporations. This strategic move also aims to mitigate the associated credit risks, bolstering financial stability in the market.
In light of this regulatory green light, the Company has rebranded itself as “Beltone Leasing & Factoring Company.” This change is not merely cosmetic; it underscores the Company’s commitment to offering a broader spectrum of financial solutions to cater to the evolving needs of its clientele.
To reinforce its position as a key player in the market, Beltone Leasing & Factoring Company recently increased its paid-in capital to a remarkable EGP 1 billion. This bold move solidifies its standing as the largest Egyptian company in the sector, measured by paid-in capital.
Mohamed Abd EL-GAWAD (his picture), who holds the position of Legal Affairs Manager at Beltone Leasing & Factoring Company