Non-banking financing reaches LE200B in Q2 of 2023: FRA

Entities subject to the Financial Regulatory Authority (FRA) granted financing amounting to about LE 200 billion during the second quarter of 2023, according to the performance indicators report issued by the FRA on Tuesday. The financial market topped the list with stock issuances during the quarter totaling about LE 97 billion. The quarter also saw financing extended to medium, small, and micro projects amounting to about LE 14 billion while total financing balances for the said projects totaled about LE 45 billion. Meanwhile, financial leasing agreements for the same period amounted to around LE 23.5B, while discounted notes went up to LE 11.4B. The consumer financing and securitization and corporate bond issues to the tune of LE 10.4 billion were recorded. The real estate financing granted by entities subject to FRA was about LE 2.1 billion, which was the least in terms of volume in the non-banking financing segment. These statistics indicate a significant growth in the non-banking financial sector, showing the sector's importance in supporting various economic verticals.