Financial leasing leapfrogged by 12 percent in the first half of 2016 in comparison with the corresponding period in 2015, the Egyptian Financial Supervisory Authority (EFSA) chairman said.

In statements on Sunday, Sherif Sami said financial leasing contracts stood at about EGP 11 billion in the first half of 2016 against EGP 9.88 billion in the same period last year.

The number of contracts however dropped from 1,367 to 1,239, he added.

Real estate and lands topped the financial leasing list with contracts worth EGP 8 billion, he said.

Equipment and machines occupied the second position with contracts estimated at EGP 1 billion, he added.

Trucks came in third position with contracts standing at EGP 905 million.

The number of financial leasing companies listed at the EFSA stood at 222 companies in the first half of 2016 against 219 in the same period last year, he said.