EFG-Hermes Leasing announced Sunday the launch of 'EFG-Hermes Leasing', a wholly-owned subsidiary of investment bank EFG-Hermes specialized in providing leasing services to large, small and medium-sized enterprises. The new subsidiary has a portfolio of 900 million Egyptian pounds ($118 million), Wael Ziada, CEO of the corporate, said during a press conference. "The leasing market in Egypt grew annually by nearly 70% until the end of April to reach EGP3 billion," said Ziada. EFG-Hermes operates in Egypt, Jordan, Kuwait, Lebanon, Omar, Saudi Arabia, UAE and Qatar.