NBFISNational Basic Forest Inventory System (India)
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ENPNewswire-August 21, 2019--Mahindra Finance and Ideal Finance form NBFI Joint Venture in Sri Lanka
It added that the group's revenues increased 13% y-o-y to reach EGP 1.1bn in 2Q19, driven by strong revenue growth delivered by the NBFIs platform, which contribution to the group's revenues reached 31% in 2Q19.
Developers that rely on refinancing from NBFIs, particularly those with weak financial profiles, will be affected the most if current conditions persist.
We expect the sovereigns' propensity to extend support to remain sufficiently strong for these NBFIs in the short to medium term.
Our venture to build a leading NBFI platform is delivering strong results with revenues almost doubling compared to last year, while our investment bank is consistently gaining strong footing in newly-entered territories and driving our long-term growth momentum," said EFG Hermes Group CEO Karim Awad.
Its non-bank financial institutions (NBFI) sector is comparatively large (around 140% of GDP on a net asset basis), in part reflecting a fully-funded government pension fund.
The release revealed that fee and commission income rose 41 percent year on year to LE 659 million in 1Q2018, with the group's solid performance during the quarter being driven by the strength of its non-bank financial institutions (NBFIs) and buy-side business.
Historically NBFIs predominantly borrowed from banks and other institutions in their domestic market.
Historically, NBFIs predominantly borrowed from banks and other institutions in their domestic market.
With increased competition and slow down in the economic activities the NBFIs will find it challenging to grow, sustainability will be key for the current year.
The SECP regulates highly important segments of the Islamic financial services industry, including modarabas, takaful, Islamic NBFIs, Islamic mutual funds, pension funds, real estate investment trusts, Shariahcompliant companies and securities.