FRA-supervised entities provide EGP 62B in total financing by July 2024

Updated 9/30/2024 6:08:00 AM

Arab Finance: The total financing granted by entities under the supervision of the Financial Regulatory Authority (FRA) reached EGP 62 billion by the end of July 2024, the FRA reported on September 29th.

These entities, which include capital market and non-banking financing activities, provided significant financing across several sectors.

Stock issues were the largest contributor, amounting to EGP 25.2 billion, while securities other than shares accounted for EGP 900 million.

Financial leasing contracts followed, with a total value of EGP 15 billion.

Medium, small, and micro enterprises (MSMEs) also received substantial financing, with EGP 7.9 billion allocated to these sectors.

Consumer finance amounted to EGP 5.1 billion, while mortgage finance stood at EGP 1.2 billion by the end of the same period.

The value of advertisements on movable assets registered under the collateral registry reached EGP 2.7 trillion by the end of July 2024.

Meanwhile, the total financing balances granted to MSMEs amounted to EGP 66.8 billion.

In the insurance sector, total premiums collected by the end of July 2024 amounted to EGP 9.2 billion.

Of this, property and liability insurance accounted for EGP 5.6 billion, while personal insurance and capital formation premiums totaled EGP 3.6 billion.

The total compensation paid by the insurance sector was EGP 3.7 billion, with property and liability claims amounting to EGP 1.6 billion and compensation for personal insurance and fund formation reaching EGP 2.1 billion.

Property and liability insurance cover risks such as fire, theft, and damage to homes, cars, warehouses, and goods, while personal insurance includes life, death, and accident coverage.