Aggregated News From Investment Management Regulators

The Value of Financial Leasing Contracts was 19.2 billion EGP for the Period from January to September 2017


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• The value of factoring was 4.4 billion EGP until September 2017 representing growth by 45%
• The value of mortgage finance granted by the companies was 8.2 billion EGP witnessing a rise by 24.9%
•Financial leasing witnessed growth by 28.7% by the end of September 2017

Dr. Mohammed Omran – FRA’s  Chairman announced that the value of financial leasing contracts was 19.2 billion pounds for the Period from January to September 2017 compared to the 14.9 billion EGP in the same period last year, representing an increase by 28. 7 %. The number of financial leasing contracts was reduced from 1373 to 1783 contracts compared to the same period last fiscal year.

Real estate activity was on the top of the list recording 13.2 billion pounds by 68.6% of the total activity, then comes Contracts of heavy equipments with a value of 1.4 billion EGP by 7.1%, then Truck Leasing and Financing contracts with a value of 1.3 billion EGP by 7 % and in the fourth place, manufacturing contracts recording 1.3 billion pounds by 6.7% from the total activity.

It is worth mentioning that number of financial leasing companies listed at FRA is 226 companies compared to 222 in the same period last year. This period witnessed activity performed by 24 financial leasing companies.

Regarding factoring,   Dr. Mohammed Omran added that the volume of Factored securities was 6.2 billion pounds for the Period from January to September 2017 compared to 3.8 Billion EGP in the same period last year and representing an increase by 53%.  In addition, financing accounts of the seven licensed companies was estimated by 4.3 billion pounds by the end of September 2017, representing an increase by 45% when compared to the same period last year.

 It is worth mentioning that factored securities are distributed as follows: 89.32% local factoring and10.67 % export. From January to September 2017, the number of companies benefited from factoring was 277 compared to 247 last year.

FRA’s Chairman revealed that the value of   Mortgage Finance granted by the companies for the Period from January to September 2017 was 8.2 billion EGP compared to 6.6 billion pounds during the same period of 2016, representing an increase by 24.9%.

The total amount of mortgage granted by the companies by the end of September 2017 was estimated by 3.5 billion pounds representing an increase by 24.6%. The Egyptian Mortgage Refinance Company (EMRC) held operations amounted to 1.08 billion pounds.   

Dr. Mohammed Omran noted that portfolios purchased by clients from Real Estate Development Companies reached 49.5% of the total value of contracts within this period.
 It is worth mentioning that the number of real estate appraisers who were listed at FRA was 193 by the end of September 2017 compared to 187 by the end of September 2016 in addition to other 4 real estate appraisal companies.

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Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

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