EFG Hermes topped the financial leasing companies, with a market share of 23%, & contracts worth EGP 1.97 billion last December.
Global Corp for Financial Services ranked second with contracts amounting to EGP 860 million & a market share of 10%.
Corplease for financial leasing came in third place, with a market share of 8.6%, & contracts amounting to EGP 741 million.
What is financial leasing?
Financial leasing is a method used by businesses for the acquisition of equipment with payment structured over time.
Egypt’s factoring market summarized
The total volume of discounted securities during the past year jumped by 81.5% to reach EGP 20.5 billion, compared to EGP 11.3 billion in 2020.
Hermes also topped the factoring companies’ throne last December, with a market share of 23.3%, & the value of the discounted securities amounted to EGP 679.2 million.
QNB Al-Ahly Factoring came in 2nd place, with a market share of 21.89%, & discounted securities amounting to EGP 638 million.
Egypt Factors came in 3rd place with discounted securities amounting to EGP 411.6 million, & a market share of 14.12%.
What is Factoring?
Factoring is a financial transaction & a type of debtor finance in which a business sells its accounts receivable (i.e., invoices) to a third party (called a factor) at a discount.
