The Financial Regulatory Authority (FRA) has released figures for non-banking finance at the close of the first quarter of 2024. In the realm of real estate, the total financing provided by companies amounted to EGP 5.318bn in Q1 2024, a substantial increase of 140.4% from EGP 2.212bn in Q1 2023. Consumer finance companies reported providing EGP 12.072bn in financing during Q1 2024, marking an 18.9% increase from EGP 10.155bn in the same period of 2023. Leasing Contracts and Sector BreakdownThe value of leasing contracts experienced a downturn, decreasing to EGP 23.420bn in Q1 2024 from EGP 28.08bn in Q1 2023, a 16.6% decline. Factoring ActivitiesRegarding factoring activities, the FRA observed an increase in the volume of factored papers to EGP 12.449bn in Q1 2024, up from EGP 10.729bn in Q1 2023, representing a 16% rise.

Source: Daily News Egypt June 13, 2024 13:24 UTC