QNB captures 41.53% of Q1 factoring activity in Egypt – report

By mohamed Hamdy On May 28, 2019

QNB ALAHLI Factoring Company, part of QNB AlAhli Bank, ranked first registering a market share of 41.53 percent of the total factoring activity at Q1, according to Egypt’s Financial Supervisory Authority (EFSA) report.

Egypt’s Financial Supervisory Authority (EFSA) revealed in a recent report the biggest factoring companies in the country in terms of market share during first quarter of the year.

Egypt Factors has come in the second position, with around 28.8 percent market share by the end of March 2019

Drive Finance, the financing arm of Ghabbour Auto Company, came third with a market share of 22.5 percent during the first quarter of the current year.

EFG Hermes Factoring, a wholly-owned unit of EFG Hermes Holding Group, obtained the fourth position with a market share of 4.65 percent.

Reaching the fifth position, Elmasreen for Factoring, a subsidiary of Bayt El Khebra Financial Solution (BEK Group), secured 1.9 percent market share.