{"id":643389,"date":"2024-09-08T00:00:00","date_gmt":"2024-09-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/08\/nbfss-register-solid-increases-across-the-board-in-2q-2024-fra-says\/"},"modified":"2024-09-08T00:00:00","modified_gmt":"2024-09-08T00:00:00","slug":"nbfss-register-solid-increases-across-the-board-in-2q-2024-fra-says","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/08\/nbfss-register-solid-increases-across-the-board-in-2q-2024-fra-says\/","title":{"rendered":"NBFSs register solid increases across the board in 2Q 2024, FRA says"},"content":{"rendered":"

Non<\/strong>-banking financial services continued their strong performance in 2Q <\/strong>2024, <\/strong>according to the Financial Regulatory Authority\u2019s (FRA) latest report (pdf)<\/a>. All activities showed solid performance during the quarter, with the value of mortgage financing more than tripling, and the value of factoring contracts, consumer financing, and SME financing notching noticeable increases.<\/p>\n

#1<\/strong>- The value of mortgage financing granted during the period increased 206.7% y-o-y to<\/strong> EGP 6.4 bn, while the number of beneficiaries rose by 125.3% y-o-y to just over 2.3k.<\/p>\n

#2<\/strong>- The volume of factoring contracts rose 43.7% y-o-y at the end of June to some EGP<\/strong> 24.5 bn.<\/strong><\/p>\n

#3<\/strong>- SMEs financing increased 43.5% y-o-y during the quarter to reach EGP 65.2 bn<\/strong>, but financing was distributed to 3.8 mn beneficiaries \u2014 a 2.3% drop y-o-y. Lending to micro projects took the lion\u2019s share with EGP 56.2 bn.<\/p>\n

#4-<\/strong> Consumer finance companies increased the total value of loans they offered by 16.7%<\/strong> y-o-y to EGP 12.1 bn.<\/strong> The loans were distributed to 963.9k customers \u2014 a 12.9% increase y-o-y. Around 28.5% of the financing went toward purchasing electronics, while 23.4% went toward financing car purchases.<\/p>\n

#5-<\/strong> The value of finance leasing contracts increased 10.2% y-o-y to EGP 25.8 bn in 2Q<\/strong> 2024.<\/strong> In the same period, the number of contracts signed fell 42.1% y-o-y to 285 contracts.<\/p>\n","protected":false},"excerpt":{"rendered":"

Mortgage financing registered a 206.7% y-o-y increase in loan value<\/p>\n","protected":false},"author":1,"featured_media":643390,"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":[104,72,7087,76,503,595,287],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-643389","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-financial-services","tag-economy","tag-enterpriseam","tag-finance","tag-financial-regulatory-authority","tag-financial-services","tag-non-banking-financial-services","tag-smes","wpautop","entry"],"acf":{"mongo_id":"94427437-8b58-4513-9e99-c411420df99c","order":"11","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/9\/479.jpg","photo_position":"above","homepage_title":"","full_issue_title":"NBFSs 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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 "Capital markets"","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":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":643389,"position":3},"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 "Banking + Finance"","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":[]},{"id":548932,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/28\/ci-capital-delivers-solid-1h-2022-results\/","url_meta":{"origin":643389,"position":4},"title":"CI Capital delivers solid 1H 2022 results","author":"enterpriseam admin","date":"28 August 2022","format":false,"excerpt":"CI Capital reported EGP 1.61 bn in group revenues in 1H 2022, a 36% y-o-y increase (after normalizing for one-off adjustments), with net income after tax and minority interest almost doubling to EGP 341 mn compared to the same period last year, according to its earnings release (pdf). For 2Q\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":581604,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/16\/contact-financial-net-income-up-21-in-2022\/","url_meta":{"origin":643389,"position":5},"title":"Contact Financial net income up 21% in 2022","author":"enterpriseam admin","date":"16 February 2023","format":false,"excerpt":"Robust revenues led the growth","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/Earnings-img-1600.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/643389","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=643389"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/643389\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/643370"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/643390"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=643389"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=643389"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=643389"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=643389"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=643389"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}