NBFS ends 2023 on a high note: The Financial Regulatory Authority (FRA) is out with its latest quarterlyreport (pdf), where it details the latest on how the country’s non-banking financial services (NBFS) performed. Sums taken out were up across the board — leasing, factoring, consumer finance, MSMEs, and mortgage financing were all up during 4Q 2023.

The breakdown:

#1- The value of leasing contracts jumped about 68% y-o-y to almost EGP 39 bn in 4Q. Meanwhile, the number of contracts signed during the quarter shrank by around 19% y-o-y to 575.

#2- Factoring receivables grew by 20.5% y-o-y in 4Q to almost EGP 12.5 bn.

#3- Consumer finance companies lent out some EGP 14.2 bn during the quarter — up just over 63% y-o-y — to 827k clients — up 8% y-o-y. Nearly 39% of the sums granted went towards vehicle purchases, while nearly 27% went towards purchases of appliances and electronics.

#4- Funding for MSMEs: Financing granted to MSMEs jumped almost 42% y-o-y during the quarter to EGP 57.1 bn, with micro enterprises making up the majority of the funding (c. EGP 50.6 bn). The funds were distributed among 3.8 mn enterprises, down 3.4% y-o-y.

#5- The value of mortgage loans taken out during the quarter was up nearly 89% y-o-y to almost EGP 3.7 bn, with the number of beneficiaries increasing 29% y-o-y to 1.43k.

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