Egypt - The Financial Regulatory Authority (FRA) has revealed that the organizations subject to its supervision, including capital market and non-banking financing entities, had injected financing worth EGP 51.5bn until August 2024.

The Authority said the financing was divided into EGP 16.9bn worth of stock issuances, EGP 4bn worth of securities issuances, and EGP 7.9bn for financial leasing contracts.

According to the Authority, the value of financing granted to MSMEs amounted to EGP 8.4bn, in addition to EGP 5.8bn for consumer finance, EGP 1.2bn for mortgage finance, and EGP 2.78tn on movable assets in the collateral registry.

The Authority revealed that the total balances of financing MSMEs amounted to EGP 69bn in August.

It explained that the total value of financing granted by consumer finance companies amounted to about EGP 35.174bn from January to August 2024, compared to EGP 28.648bn in 2023, an increase of 22.8%.

The Authority revealed that the number of customers reached 2.506 million by the end of August 2024, compared to 2.245 million by the end of August 2023.

According to the Authority, purchasing cars and vehicles accounted for 28.91%, followed by the electrical and electronics sector by 28.63%, and appliances by 11.05%.

The purchase sector issued with a single invoice from various stores and commercial chains accounted for 6.34%, followed by the purchase of clothes, shoes, bags, watches, jewellery and glasses at 5.19%.

The Authority also revealed that the total value of financial leasing companies’ contracts increased to EGP 72.250bn from January to August 2024, compared to EGP 66.203bn in 2023, an increase of 9.1%.

The total number of contracts recorded was 1,105 in August 2024, compared to 1,269 contracts in 2023.

According to the Authority, the real estate and land sector accounted for 76.31%, followed by the transport vehicles sector at 7.22%, then the machinery and equipment sector at 4.34%. The heavy equipment sector accounted for 3.67%, the passenger cars sector accounted for 3.34%, and production lines accounted for 2.19%.

The Authority also indicated that the total collected insurance premiums recorded EGP 9.1bn in August 2024, in addition to EGP 3.7bn total compensation paid by the insurance sector, and EGP 2.2bn investments by private insurance funds.

Total insurance premiums reached EGP 9.1bn. The value of the premiums collected for the property and liability insurance activity amounted to EGP 5.1bn, while the premiums collected for the personal insurance and capital formation activity amounted to EGP 3.9bn.

The total compensation paid by the insurance sector amounted to EGP 3.7bn in August 2024. The compensation paid for property and liability insurance amounted to EGP 1.8bn, while the compensation paid to individuals and capital formation amounted to EGP 1.9bn.

Noteworthy, property and liability insurance means insurance on property against risks, such as fire or theft, and insurance on homes, cars, warehouses, goods and other assets.

Personal and capital formation insurance means life insurance or insurance in the event of death or injury in an accident.

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