Granted consumer financing hits LE 29.8B during 2022

Value of the consumer financing during 2022 amounted to LE 29.8 billion, compared to LE 17 billion in 2021, with an increase of 75.3 percent.

The Financial Regulatory Authority stated, during a conference held, Thursday, that the value of advertisements on movable assets since March 2018 until the end of 2022 amounted to LE 1.8 trillion.

It added that the number of advertisements reached 129,000, and the increase in the value of advertisements was about 78.6 percent by the end of last year, on an annual basis.

The FRA said that the number of beneficiaries from the activity of financing medium, small and micro enterprises reached 4 million citizens, with total balances amounting to more than LE 40 billion in 2022.

It indicated that females accounted for more than 60 percent of the total number of beneficiaries.

Source: Egypt Today Magazine