FRA-supervised entities record EGP 243B in total financing for Q2 2024
Updated 9/8/2024 7:45:00 AM
Arab Finance: The total financing granted by entities under the supervision of the Financial Regulatory Authority (FRA), including capital market and non-banking financing activities, has reached EGP 243 billion in the second quarter (Q2) of 2024, as per the FRA’s report on Egypt’s non-banking financial services (NBFS) performance for Q2 2024.
The value of share issuances during the April-June period rose by 25.09% year on year (YoY) to EGP 148.979 billion from EGP 119.1 billion, while security issuances, excluding shares, were valued at EGP 11.283 billion, marking an 8.5% YoY increase.
Meanwhile, the value of finance lease contracts sealed in Q2 2024 was EGP 25.84 billion, up by 10.21% YoY, while the number of contracts fell by 42.07% YoY to 285.
Moreover, the report revealed that consumer finance companies pumped EGP 12.1 billion in financing in the three-month period, marking a 16.7% YoY surge from EGP 10.4 billion.
In addition, discounted securities went up by 73% YoY in the April-June period of 2024 to EGP 18.663 billion from EGP 10.787 billion.
Furthermore, mortgage financing granted from companies in Q2 2024 rose by 206.7% YoY to EGP 6.379 billion, with the number of investors surging 125.3% YoY to 2,312.
As for financing micro-, small-, and medium-sized enterprises (MSMEs), total financing provided to them jumped to EGP 20.026 billion in the three months to June.
Related News
