Tuesday , August 16 2022

LE 16.2 MLR. Total microfinance by the end of the quarter



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02:59

Thursday, November 22, 2018

Books – Mustafa Iid:

Mona Zulfikar, Chairman of the Egyptian Microfinance Union, said the microfinance industry continued to grow at a slower pace in the third quarter of 2018, amounting to $ 9.1 billion in the third quarter. Starting from 2017.

Growth in the loan portfolio was accompanied by a significant increase in the number of microfinance beneficiaries, which increased by 26% in the third quarter of 2018 and amounted to 3 million USD. At the end of the third quarter of 2017.

He pointed out that representatives of NGOs and associations that carry out microfinance in terms of the value and beneficiary base of the loan portfolio.

By the end of the third quarter of 2018, the number of beneficiaries increased by 14% to 1.9 million people. He reached the man. The loan portfolio grew by 43% as of the end of Q3 of the current year as of the end of the third quarter of 2017.

Mona Zulfikar noted that the second microfinance company beneficiaries will reach 808,000 clients with an increase of 71% compared to the same period last year.

While these companies have the third place in the value of the industry loan portfolio, they have the highest growth rates among all funding donors for comparison – $ 4.7 billion. Pound, year of comparison – Mina Zulfikar.

By the end of the third quarter of 2018, banks reached 348,000, with banks increasing by 16% compared to the same period of 2017 (with direct funding of more than 100,000 individuals and companies).

In the second place in terms of loan portfolio, banks increased by 87% to $ 5.6 billion.

The Chairman of the Board of Directors affirmed that the microfinance industry steadily cooperates with the central bank, the Main Directorate for Financial Supervision, the Small and Medium Entrepreneurship Development Authority, the Credit Guarantee Company and the Egyptian Credit Information Company with a number of stakeholders.

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