{"id":617909,"date":"2024-03-31T00:00:00","date_gmt":"2024-03-31T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/how-did-non-banking-financial-services-perform-during-4q-2023\/"},"modified":"2024-03-31T00:00:00","modified_gmt":"2024-03-31T00:00:00","slug":"how-did-non-banking-financial-services-perform-during-4q-2023","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/31\/how-did-non-banking-financial-services-perform-during-4q-2023\/","title":{"rendered":"How did non-banking financial services perform during 4Q 2023?"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>NBFS ends 2023 on a high note: <\/strong>The Financial Regulatory Authority (FRA) is out with its latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2626.pdf\" style=\"\" rel=\"noopener\">quarterly<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/2626.pdf\" style=\"\" rel=\"noopener\">report (pdf)<\/a>, where it details the latest on how the country\u2019s non-banking financial services (NBFS) performed. Sums taken out were up across the board \u2014 leasing, factoring, consumer finance, MSMEs, and mortgage financing were all up during 4Q 2023. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown: <\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#1- The value of leasing contracts<\/strong> 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.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#2- Factoring receivables<\/strong> grew by 20.5% y-o-y in 4Q to almost EGP 12.5 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#3- Consumer finance companies<\/strong> lent out some EGP 14.2 bn during the quarter \u2014 up just over 63% y-o-y \u2014 to 827k clients \u2014 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.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#4- Funding for MSMEs: <\/strong>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. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>#5- The value of mortgage loans<\/strong> 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.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The value of leasing contracts jumped about 68% y-o-y to almost EGP 39 bn in 4Q<\/p>\n","protected":false},"author":1,"featured_media":617910,"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-617909","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":"e102a5ac-2712-485d-ae92-16d1304531cf","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/2637.jpg","photo_position":"above","homepage_title":"","full_issue_title":"How did Egypt\u2019s non-banking financial services perform during 4Q 2023?","related_issue":[617896],"teaser":"The value of leasing contracts jumped about 68% y-o-y to almost EGP 39 bn in 4Q","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.5c7863ca-1ceb-4f38-86b2-fb1bdf6ed290.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 4Q 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\/2024\/03\/31\/how-did-non-banking-financial-services-perform-during-4q-2023\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How did 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EFG Hermes Corp-Solutions\u2019 market share stood at 21.8% in June after loaning out EGP 2.2\u2026","rel":"","context":"In &quot;NON-BANK LENDING&quot;","block_context":{"text":"NON-BANK LENDING","link":"https:\/\/enterpriseam.com\/egypt\/category\/non-bank-lending\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/223.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566688,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/07\/mabrouk-consumer-finance-players\/","url_meta":{"origin":617909,"position":3},"title":"Mabrouk consumer finance players","author":"enterpriseam admin","date":"7 July 2021","format":false,"excerpt":"Consumer finance providers are in line for an exemption from value-added tax (VAT), under an agreement the Financial Regulatory Authority reached with tax authorities, FRA Deputy Chairman Islam Azzam said in a statement (pdf). 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":617909,"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":617909,"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\/617909","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=617909"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/617909\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/617896"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/617910"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=617909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=617909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=617909"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=617909"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=617909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}