{"id":612704,"date":"2023-12-27T00:00:00","date_gmt":"2023-12-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/27\/how-did-non-banking-financial-services-perform-during-3q-2023\/"},"modified":"2023-12-27T00:00:00","modified_gmt":"2023-12-27T00:00:00","slug":"how-did-non-banking-financial-services-perform-during-3q-2023","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/12\/27\/how-did-non-banking-financial-services-perform-during-3q-2023\/","title":{"rendered":"How did non-banking financial services perform during 3Q 2023?"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>NBFS: A quarter in review. <\/strong>The Financial Regulatory Authority (FRA) is out with its quarterly <a target=\"_blank\" href=\"https:\/\/ent.news\/2023\/12\/1781.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a> detailing the latest on non-banking financial services (NBFS). Sums taken out rose across the board \u2014 leasing, factoring, consumer finance, and MSMEs \u2014 except for mortgage financing, which suffered from the side effects of the central bank tightening monetary policy and raising interest rates. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN THE GREEN-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- <\/strong>The value of <strong>l<\/strong><strong>ea<\/strong><strong>sing contracts<\/strong> 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.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- <\/strong><strong>Factoring<\/strong><strong> receivable<\/strong>s grew 39% y-o-y in 3Q to almost EGP 10 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3-<\/strong><strong>Consumer financ<\/strong><strong>e <\/strong>companies lent out some EGP 12.1 bn during the quarter \u2014 up 60% y-o-y \u2014 to 811k clients \u2014 up 18% y-o-y. Over 40% of the sums granted went towards vehicle purchases, while 24% went towards purchases of appliances and electronics.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Funding for <\/strong><strong>MSME<\/strong><strong>s:<\/strong> Financing granted to MSMEs jumped almost 35% y-o-y to EGP 49.7 bn with micro enterprises taking the lion\u2019s share of the funding (c. EGP 45.2 bn). The funds were distributed among 3.8 mn enterprises. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>IN THE RED- <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The value of m<\/strong><strong>ortgage <\/strong><strong>loans <\/strong>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. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mortgage financing fell almost 42% y-o-y during 3Q 2023<\/p>\n","protected":false},"author":1,"featured_media":612705,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8313],"tags":[514,72,593,76,503,242,2061,595,287],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-612704","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-services","tag-consumer-finance","tag-enterpriseam","tag-factoring","tag-financial-regulatory-authority","tag-financial-services","tag-leasing","tag-mortgage-finance","tag-non-banking-financial-services","tag-smes","wpautop","entry"],"acf":{"mongo_id":"1013f8b1-0205-4e77-bb7f-0c993436bc20","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/12\/1794.jpg","photo_position":"above","homepage_title":"","full_issue_title":"How did Egypt\u2019s non-banking financial services perform during 3Q 2023?","related_issue":[612699],"teaser":"Mortgage financing fell almost 42% y-o-y during 3Q 2023","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/12\/.d2829065-9c01-4ea8-ac52-0a01eb16d26a.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>How did non-banking financial services perform during 3Q 2023? - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2023\/12\/27\/how-did-non-banking-financial-services-perform-during-3q-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How did non-banking financial 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almost EGP 39 bn in 4Q","rel":"","context":"In &quot;FINANCIAL SERVICES&quot;","block_context":{"text":"FINANCIAL SERVICES","link":"https:\/\/enterpriseam.com\/egypt\/category\/financial-services\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/3\/2637.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":643389,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/08\/nbfss-register-solid-increases-across-the-board-in-2q-2024-fra-says\/","url_meta":{"origin":612704,"position":1},"title":"NBFSs register solid increases across the board in 2Q 2024, FRA says","author":"enterpriseam admin","date":"8 September 2024","format":false,"excerpt":"Mortgage financing registered a 206.7% y-o-y increase in loan value","rel":"","context":"In &quot;FINANCIAL SERVICES&quot;","block_context":{"text":"FINANCIAL 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This came as the regulator sought to give consumer finance players the same VAT treatment afforded\u2026","rel":"","context":"In &quot;Taxation&quot;","block_context":{"text":"Taxation","link":"https:\/\/enterpriseam.com\/egypt\/category\/regulation\/taxation\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":547233,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/14\/we-like-debt-and-insurance-but-hate-stocks\/","url_meta":{"origin":612704,"position":4},"title":"We like debt and insurance, but hate stocks","author":"enterpriseam admin","date":"14 June 2022","format":false,"excerpt":"The Financial Regulatory Authority is out with its quarterly report (pdf) detailing the state of capital markets in 1Q2022, and it was a mixed bag. Activity on the bourse and securitized bond issuances fell, while all other capital market activities saw an uptick in the first three months of the\u2026","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594359,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/10\/28\/samih-sawiris-and-seven-others-to-set-up-egp-1-bn-nbfs-firm-in-egypt\/","url_meta":{"origin":612704,"position":5},"title":"Samih Sawiris and seven others to set up EGP 1 bn NBFS firm in Egypt","author":"enterpriseam admin","date":"28 October 2019","format":false,"excerpt":"Samih Sawiris, seven investors plan EGP 1 bn NBFS firm: Samih Sawiris is setting up a EGP 1 bn non-banking financial services firm alongside seven other business figures from the banking and construction industries, sources told Al Mal. The new firm, MLF, will provide leasing, mortgage financing, and factoring services.\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/612704","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=612704"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/612704\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/612699"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/612705"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=612704"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=612704"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=612704"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=612704"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=612704"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}