{"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":616243,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/03\/03\/redcon-properties-inks-egp-925-mn-syndicated-factoring-agreement\/","url_meta":{"origin":617909,"position":3},"title":"Redcon Properties inks EGP 925 mn syndicated factoring agreement","author":"enterpriseam admin","date":"3 March 2024","format":false,"excerpt":"The agreement marks Egypt\u2019s first joint factoring transaction","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\/63.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":608599,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/10\/23\/beltone-al-ahly-sabbour-sign-leasing-transaction-worth-egp-1-2-bn\/","url_meta":{"origin":617909,"position":4},"title":"Beltone, Al Ahly Sabbour sign leasing transaction worth EGP 1.2 bn","author":"enterpriseam admin","date":"23 October 2023","format":false,"excerpt":"Beltone x Al Ahly Sabbour:Beltone\u2019s Financial\u2019s leasing subsidiary has signed a sale and leaseback agreement worth EGP 1.2 bn with real estate developer Al Ahly Sabbour, the company said in a statement (pdf) yesterday. The details:The financing will be disbursed in two tranches of equal sizes, the second of which\u2026","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\/2023\/10\/1088.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":646030,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/06\/04\/mortgage-finance-increases-by-98-y-o-y-in-4m17-financial-lease-up-by-21\/","url_meta":{"origin":617909,"position":5},"title":"Mortgage finance increases by 98% y-o-y in 4M17, financial lease up by 21%","author":"enterpriseam admin","date":"4 June 2017","format":false,"excerpt":"Mortgage financing in the first four months of the year increased by 98% y-o-y to EGP 722 mn, according to a report by EFSA. 87% of the mortgage contracts signed were for residential purposes. Financial leasing also grew by 21% y-o-y to EGP 8.5 bn, the report noted.","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"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}]}}