The Financial Regulatory Authority (FRA) has unveiled its Monthly Performance Report for Non-Banking Financial Services, dated August 2024. Key highlights from the report showcase a robust performance in the Consumer Finance sector:
Customer Base:
The number of customers surged by 47.5% year-on-year (Y-O-Y), reaching 379.4 thousand customers compared to 257.3 thousand customers in the corresponding period last year.
Year-to-date (YTD) figures indicate an 11.6% increase, with 2.506 million customers from January to August 2024, up from 2.245 million customers for the same period in 2023.
Financing Metrics:
Total financing value in August 2024 hit EGP 5.835 billion, marking a 38% increase from EGP 4.227 billion recorded same period last year.
The YTD change reflects a 22.8% increase in total financing value amounting to EGP 35.174 billion from January to August 2024, compared to EGP 28.648 billion for the same period last year.
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