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The Value of Financial Leasing Contracts was 10.6 billion EGP in the first five months of 2017

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• The value of factoring was 2.8 billion EGP by the end of May representing growth by 44%
• The value of financial leasing contracts for non-residential purposes was 22%
•Financial leasing witnessed growth by 10% by the end of May
• The value of new mortgage finance granted by the companies was 862 million EGP witnessing a rise by 95%

Sherif Samy- EFSA’s Chairman announced that the value of financial leasing contracts was 10.6 billion pounds within the first five months of 2017 compared to the 9.7 billion EGP in the same period last year, representing an increase by 10 %. The number of financial leasing contracts was reduced from 1052 to 799 contracts.

Real estate activity was on the top of the list recording 6.9 billion pounds by 64% of the total activity, then comes manufacturing contracts by 10% , then  Truck Leasing and Financing with a value of 931 million EGP by 9 % and in the fourth  place, Contracts of heavy equipments recording 732 million pounds by 7% from the total activity.

It is worth mentioning that number of financial leasing companies listed at EFSA is 224 companies compared to 222 in the same period last year. This period a witnessed activity performed by 23 financial leasing companies and it was same number last year.

Regarding factoring, the volume of Factored securities was 2.8 billion pounds by the end of May 2017. During the same period last year the volume of factoring was 1.9 billion pounds with an increase by 44%. Financing accounts of the seven licensed companies estimated by 4 billion pounds by the end of May 2017, representing an increase by 58% when compared to the same period last year.
 It is worth mentioning that factored securities are distributed as follows: 86% local factoring and14% export. By the end of May 2017, the number of companies benefited from factoring was 264 compared to 238 last year.

Sherif Samy revealed that the value of   Mortgage Finance granted by the companies was 862 million EGP compared to 442 million pounds during the same period of 2016, representing an increase by 95%. The total amount of mortgage granted by the companies until the end of May 2017 was estimated by 3.5 billion pounds representing an increase by 26%. The Egyptian Mortgage Refinance Company (EMRC) held operations amounted to 55 million pounds.  

The percentage of Investors whose income is more than 3500 pounds per month is estimated by 97% of the total number of beneficiaries within this period. Meanwhile, the category of residential units with space of 86 square meters is 90% of the total number of contracts. Whereas, the category of residential units with space of 66-86 square meters is 5 % of the total number of contracts compared to 5% for residential units with space of 66 square meters. It is worth mentioning that 78% of contracts were for residential purposes.

 Sherif Samy noted that portfolios purchased by clients from Real Estate Development Companies reached 55% of the total value of contracts within this period.
 It is worth mentioning that the number of real estate appraisers who were listed at EFSA was 197 by the end of May 2017 compared to 188 by the end of May 2016 in addition to other three real estate appraisal companies.

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Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

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