FRA: August financing hits EGP51.5b
The Egyptian Financial Regulatory Authority (FRA) reported on Thursday that total financing from entities under its supervision reached 51.5 billion Egyptian pounds by the end of August 2024. This amount reflects combined activities across capital markets and non-banking financial services.
Financing Activities
In its breakdown, the FRA allocated 16.9 billion Egyptian pounds to equity issuances and directed 4 billion Egyptian pounds to securities other than shares. Leasing contracts accounted for 7.9 billion Egyptian pounds, while small, medium, and micro enterprises received 8.4 billion Egyptian pounds. Additionally, consumer financing totaled 5.8 billion Egyptian pounds, discounted securities reached 7.3 billion Egyptian pounds, and real estate financing amounted to 1.2 billion Egyptian pounds.
Movable Assets and Enterprise Financing
The FRA reported the value of declarations on movable assets in the Movable Collaterals Registry at 2.78 trillion Egyptian pounds by the end of August. Financing balances for projects in the small, medium, and microenterprise sector reached 69 billion Egyptian pounds.
Insurance Sector Performance in August
In the insurance sector, FRA data showed total premiums collected at 9.1 billion Egyptian pounds, with property and liability insurance generating 5.1 billion Egyptian pounds and life and accident insurance premiums totaling 3.9 billion Egyptian pounds.
Claims Paid and Types of Insurance Coverage
The FRA recorded total insurance claims at 3.7 billion Egyptian pounds by the end of August, with property and liability claims totaling 1.8 billion Egyptian pounds and life and accident insurance claims reaching 1.9 billion Egyptian pounds.
The report clarified that property and liability insurance covers assets against risks like fire and theft, while life and accident insurance provides coverage for life, death, and various accident scenarios.
Attribution: FRA
Subediting: Y.Yasser
