The Financial Regulatory Authority (FRA) has released the latest data on the financing and insurance activities of the entities under its supervision, including capital market and non-banking financing activities, for the second quarter (Q2) of 2023.
According to the FRA, the total value of financing granted by these entities reached EGP 200bn in Q2 2023, distributed among EGP 79bn for share issuances, EGP 45.4bn for micro, small and medium enterprises, EGP 23.5bn for financial leasing contracts, EGP 11.4bn for discounted securities, EGP 10.4bn each for securitization and corporate bond issues and consumer financing, and EGP 2.1bn for real estate financing.
The FRA also reported that the total premiums collected by insurance companies in Q2 2023 amounted to EGP 17.6bn, of which EGP 8.6bn was for property and liability insurance and EGP 8.9bn was for life and money issuance insurance. The insurance companies paid EGP 8.2bn in compensation, of which EGP 3.1bn was for property and liability insurance and EGP 5.1bn was for life insurance.
The FRA revealed that the number of companies licensed to practice real estate financing increased to 19 by the end of June 2023, compared to 16 by the end of June 2022. The total issued capital of these companies increased by 10.7% to reach EGP 3.248bn. The total value of real estate financing in Q2 2023 was EGP 2.080bn, compared to EGP 3.808bn in Q2 2022.
The FRA also stated that the number of entities operating in microfinance activities reached 1,008, with a network of 3,016 branches and 4,024 outlets by the end of Q2 2023. The number of entities operating in financing MSMEs reached five, with a network of 576 branches and 581 outlets.