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The Value of Financial Leasing Contracts was 11.8 billion EGP in the first half of 2017

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• The value of factoring was 3.5 billion EGP in the first half of 2017 representing growth by 45%
• The value of financial leasing contracts for non-residential purposes was 25%
•Financial leasing witnessed growth by 7% by the end of June
• The value of new mortgage finance granted by the companies was 956 million EGP witnessing a rise by 77%

Sherif Samy- EFSA’s Chairman announced that the value of financial leasing contracts was 11.8 billion pounds in the first half of 2017 compared to the 11 billion EGP in the same period last year, representing an increase by 7 %. The number of financial leasing contracts was reduced from 1239 to 894 contracts.
Real estate activity was on the top of the list recording 7.8 billion pounds by 66% of the total activity, then comes manufacturing contracts with a value of 989 million EGP  by 8.4% , then  Truck Leasing and Financing with a value of 968 million EGP by 8.2 % and in the fourth  place, Contracts of heavy equipments recording 827 million pounds by 7% from the total activity.
It is worth mentioning that number of financial leasing companies listed at EFSA is 225 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 3.5 billion poundsin the first half of 2017. During the same period last year the volume of factoring was 2.4 billion pounds with an increase by 45%. Financing accounts of the seven licensed companies estimated by 4.3 billion pounds by the end of June 2017, representing an increase by 62% when compared to the same period last year.
 It is worth mentioning that factored securities are distributed as follows: 88% local factoring and12% export. By the end of June 2017, the number of companies benefited from factoring was 264 compared to 237 last year.
Sherif Samy revealed that the value of   Mortgage Finance granted by the companies was 956 million EGP compared to 540 million pounds during the same period of 2016, representing an increase by 77%. The total amount of mortgage granted by the companies until the end of June 2017 was estimated by 3.5 billion pounds representing an increase by 27%. 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 97.5% of the total number of beneficiaries within this period. Meanwhile, the category of residential units with space of 86 square meters is 81% 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 14% for residential units with space of 66 square meters. It is worth mentioning that 25% of contracts within this period were for non-residential purposes.
 Sherif Samy noted that portfolios purchased by clients from Real Estate Development Companies reached 52% 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 200 by the end of June 2017 compared to 187 by the end of June 2016 in addition to other three real estate appraisal companies.
 

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Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

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