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16.44 billion pounds were the value of financial leasing contracts during the first quarter of 2021


The Financial Supervisory Authority announced that the value of financial leasing contracts increased to reach about 16.44 billion pounds during the first quarter (January-March) of 2021 compared to 16.40 billion pounds during the corresponding period of the previous year, a growth rate of 0.3%, and the number of contracts also increased from 711 contracts to 890 contracts during the comparison period, with a growth rate of 25.2%, which reflects the growing importance of the financial leasing market on the map of economic activity in Egypt.

 

The periodic report of the Financial Control showed that the real estate and land activity acquired the largest share of the value of financial leasing contracts, at a value of about 13.4 billion pounds, or 81.3% of the total value of contracts due to the large size of this sector compared to the rest of the other sectors in addition to projects that always need loans to be implemented. After that, in the arrangement, the activity of machinery and equipment, by its acquisition of 5.7% of the total value of contracts, at a value of 0.94 billion pounds, and in the third place was the activity of transport vehicles with a value of contracts amounting to about 0.76 billion pounds, or 4.65% of the total value of contracts during the period under study.

 

According to the report, the number of companies whose market shares are less than 3% reached 21 companies during the period under study compared to 16 companies during the corresponding period of the previous year. Market share calculation - by acquiring a market share of 19.70%, followed by Corplease Financial Leasing - Egypt with 17.54%, and GB Financial Leasing Company came in third place with 7.67% of the total contract values ​​during the period under study.

 

It should be noted that the financial leasing formula is one of the most important financial tools that can support the national economy, in light of the general interest that this formula be used in providing funds to individuals and companies in addition to small projects and national projects included in the state's budget, and it can also contribute to revitalizing Many sectors, such as real estate, machinery and equipment, and providing housing units for citizens.

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