NBFS: A quarter in review. The Financial Regulatory Authority (FRA) is out with its quarterly report (pdf) detailing the latest on non-banking financial services (NBFS). Sums taken out rose across the board — leasing, factoring, consumer finance, and MSMEs — except for mortgage financing, which suffered from the side effects of the central bank tightening monetary policy and raising interest rates.

IN THE GREEN-

#1- The value of leasing contracts jumped about 17% y-o-y to almost EGP 27 bn in 3Q. However, the number of contracts signed during the quarter shrank by around 32% y-o-y to 427.

#2- Factoring receivables grew 39% y-o-y in 3Q to almost EGP 10 bn.

#3-Consumer finance companies lent out some EGP 12.1 bn during the quarter — up 60% y-o-y — to 811k clients — up 18% y-o-y. Over 40% of the sums granted went towards vehicle purchases, while 24% went towards purchases of appliances and electronics.

#4- Funding for MSMEs: Financing granted to MSMEs jumped almost 35% y-o-y to EGP 49.7 bn with micro enterprises taking the lion’s share of the funding (c. EGP 45.2 bn). The funds were distributed among 3.8 mn enterprises.

IN THE RED-

The value of mortgage loans taken out during the quarter fell about 42% y-o-y to EGP 2.4 bn, with the number of beneficiaries falling 58% y-o-y to 1.2k.

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