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The Value of Financial Leasing Contracts was 8.5 billion EGP in the first four months of 2017

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• The value of factoring was 2.1 billion EGP by the end of April representing growth by 46% •Financial leasing witnessed growth by 21% by the end of April
• The value of new mortgage finance granted by the companies was 722 million EGP witnessing a rise by 98%

Sherif Samy- EFSA’s Chairman announced that the value of financial leasing contracts was 8.5 billion pounds within the first four months of 2017 compared to the 7.1 billion EGP in the same period last year, representing an increase by21%. The number of financial leasing contracts was reduced from 836 to 651 contracts.
Real estate activity was on the top of the list recording 5.4 billion pounds by 63% of the total activity, then comes manufacturing contract amounted to 925 million EGP by 11% , then  Truck Leasing and Financing with a value of 754 billion EGP by 9 % and in the fourth  place, Contracts of heavy equipments recording 605 billion 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 22 financial leasing companies and it was same number last year.
Regarding factoring, the volume of Factored securities was2.1billion pounds by the end of April 2017. During the same period last year the volume of factoring was 1.5 billion pounds with an increase by 46%. Financing accounts of the seven licensed companies estimated by 4 billion pounds by the end of April   2017, representing an increase by 65% when compared to the same period last year.

 It is worth mentioning that factored securities are distributed as follows: 87% local factoring and13% export. By the end of April 2017, the number of companies benefited from factoring was 261compared to 237 last year.
Sherif Samy revealed that the value of   Mortgage Finance granted by the companies was 722 million EGP compared to 364 million pounds during the same period of 2016, representing an increase by 98%. The total amount of mortgage granted by the companies until the end of April 2017 was estimated by 3.5 billion pounds representing an increase by 25%. 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 89% 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 6% for residential units with space of 66 square meters. It is worth mentioning that 87% of contracts were for residential purposes.
The portfolios purchased by clients from Real Estate Development Companies reached 61% 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 April 2017 compared to 188 by the end of April 2016.
 

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Regulator Information

Abbreviation: FRA
Jurisdiction: Egypt

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