FRA reveals Egypt’s Q4 2023 NBFS performance indicators
Updated 3/31/2024 8:42:00 AM
Arab Finance: The number of finance lease contracts sealed in the fourth quarter (Q4) of 2024 fell by 19.13% year on year (YoY) to 575, valuing at EGP 39.96 billion, according to the Financial Regulatory Authority’s (FRA) report on Egypt’s non-banking financial services (NBFS) performance for Q4 2023.
However, the value of these contracts saw a 67.86% YoY uptick from EGP 23.209 billion in Q4 2022.
Meanwhile, factoring receivables went up by 20.5% YoY in the October-December period of 2023 to EGP 12.495 billion from EGP 10.367 billion.
The report also showed that consumer finance companies pumped EGP 14.205 billion in financing over the last quarter of 2023, marking a 63.1% YoY surge from EGP 8.71 billion.
The number of beneficiaries from consumer finance increased to over 827,200 clients, up 8.1% YoY from 765.200 clients in Q4 2022.
As for financing micro-, small-, and medium-sized enterprises (MSMEs), total financing balances provided to them climbed to EGP 57.092 billion in the three months to December 2023, compared to EGP 40.279 billion in the same period of 2022, with the number of beneficiaries increasing from 3.955 million to 3.819 million.
Moreover, mortgage finance granted to investors in Q4 2023 rose by 88.73% YoY to EGP 3.694 billion, with the number of beneficiaries surging 28.71% YoY to 1,430.
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