2022 saw consumer lending in Egypt register a positive performance as both gross lending and outstanding balance increased in current price terms. Personal loans remain at the forefront of the consumer finance industry, with consumer credit products dominating the finance portfolios of the country’s leading retail banks.
One of the most important trends in the Egyptian consumer lending industry towards the end of the review period was the seemingly relentless rise of non-bank lenders. The Financial Regulatory Authority (FRA) and the Egyptian Tax Authority recently agreed to exempt consumer finance services from value-added tax (VAT).
Micro-finance becoming increasingly important part of Egypt’s consumer lending industry towards the end of the review period. Much of this individual microfinance activity focuses on improving the prospects of success for individuals operating commercially in the field of agriculture and related activities, areas which are seen as a vital importance to the future of Egypt’s economy.
One factor which has traditionally inhabited growth in Egypt’s consumer lending industry is the low awareness of the benefits of consumer lending as well as the lack of a well-developed banking culture in most parts of the country. Recently, key industry stakeholders have sought to remedy the situation.
The forecast period is likely to see consumer lending continue to register strong growth in Egypt. In particular, robust growth is expected to be seen in the areas of digital banking, open banking and buy now, pay later, with younger generations of consumers likely to remain a key target audience for the buy now, pay later programmes of Egypt’s leading banks and financial institutions.
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Understand the latest market trends and future growth opportunities for the Consumer Lending industry in Egypt with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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Consumer Lending
Aggregate of Consumer Credit and Mortgages/Housing. Gross Lending: The total value of loans advanced by institutions in a given year; data refers to single year only. Outstanding Balance: The collective amount owed by borrowers at the end of a given year; data refers to the cumulative impact of debt.
See All of Our DefinitionsThis report originates from Passport, our Consumer Lending research and analysis database.
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