Significant increase in the volume of consumer loans for Egyptians over 6 months
The recent period has witnessed a notable increase in the demand by Egyptian citizens for consumer finance services, with the value of loans obtained by individuals from finance companies reaching 72 billion pounds in just six months.
Official data indicates that this figure represents a significant increase of 88.5% compared to previous periods. This rise reflects a change in the behavior of Egyptian consumers, who have become more reliant on finance companies to purchase their basic needs and durable goods.
Certain sectors account for the largest share of these loans, with some consumer sectors capturing approximately 26.5% of the total financing granted. These companies play an increasing role in the Egyptian market by offering repayment facilities and simplifying the installment purchase process.
Experts believe that this rapid growth in the consumer finance sector is due to the diversity of services provided by companies, in addition to the ease of procedures that attract a wide segment of citizens. Nevertheless, officials in the financial sector are monitoring these figures to ensure market stability and protect the rights of both consumers and borrowers.