Wednesday , September 28 2022

CI Capital: 39% profit and revenue growth in the first half to £ 1.1 billion


The wound of Mamud

CI Capital Holdings announced its consolidated financial results for the six months ended June 30, 2019.

Total revenue amounts to EGP 1.1 billion, an increase of 34.9% in the first half of 2018. Net operating profit is EGP 343.9 million, an increase of 30.6% in the first half of the previous year.

Net profit before taxes amounted to LE 308.8 million, an increase of 30.4% for the first half of last year. Net profit after taxes and minority interest amounted to LE 207.7 million, an increase of 38.8% for the first half of the previous year. 2018 year.

Revenue from financial leasing activities increased by 68.9% compared to the first half of the previous year and reached LE 768.2 million. The total financial leasing portfolio amounts to LE 8.1 billion at the end of the first half of this year, an increase of 53.4% ​​for the first half of 2018.

Microfinance achieved a 16.8% increase in revenue and a 19% increase in net profit to LE 163.5 million and LE 56.7 million respectively.

Total loans to customers amount to EGP 660 million at the end of the first half of 2019.

Assets managed amount to LE 9.1 billion, with an annual increase of 10%. The market share of brokerage in securities reached 2% for the first half of 2019 and was ranked second in the ranking of securities brokerage companies.

Revenues from financial advisory services, promotion and IPO coverage rose to EGP 33.7 million.

Mahmoud Atala, chairman and CEO of the group, said the business results came in light of the company's strategy to improve its operations and seek new growth opportunities, allowing its services to be provided more from customers in light of our positive vision for the local economy. In addition to the expansionary monetary policy, which we expect to begin later this year.

The Group continued to achieve strong results in its financing activities with a growth of 47 percent in the first half of 2019 to reach the EGP of 9.3 billion, which was one of the main pillars of the Group's revenue growth of 35 percent to LE 1.1 billion over the same period, however, at the same time, the investment bank's performance was adversely affected by the Egyptian stock market's low trading volume, which is expected to improve after expansionary fiscal policy is implemented.

Revenue growth, coupled with cost rationalization, led to an increase in net profit as tax and minority interest rates rose 39% year-on-year to 207.7 million pounds.

During the first half of 2019, the company expanded its non-bank financing activities by setting up a real estate financing company and a consumer goods and durables financing company. the necessary steps to get started and expected to be before the end of this year.

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