Egypt’s non-banking financial sector hits EGP 85.4b in total financing in Nov ’24 – FRA
Egypt’s non-banking financial sector recorded a total financing volume of EGP 85.4 billion in November 2024, according to the latest performance report from the Financial Regulatory Authority (FRA) on Thursday.
Breakdown of Financing Activities
- Mortgage finance: 1.1 billion pounds
- Factoring: 7.2 billion pounds
- Consumer finance: 7.6 billion pounds
- Financial leasing contracts: 13.7 billion pounds
- SME financing: 8.7 billion pounds
- Securitisation and corporate bond issuances: 2.8 billion pounds
Insurance Sector Performance
The insurance sector also demonstrated strong activity, with total premiums collected reaching 7.8 billion pounds divided as:
- Life insurance and fund formation: 4.1 billion pounds
- Property and liability insurance: 3.7 billion pounds
During the month, total insurance claims paid stood at 4.1 billion pounds, comprising:
- Life insurance settlements: 2.3 billion pounds
- Property and liability claims: 1.8 billion pounds
Investments & Asset Guarantees
- Private insurance fund investments: 2.2 billion pounds
- Outstanding SME financing balances: 75.4 billion pounds
- Registered movable asset guarantees: 2.9 trillion pounds
Attribution: Amwal Al Ghad English
Subediting: Y.Yasser