Arab Company for Asset Management and Development (ACAMD) saw a 30.98% year-on-year (YoY) decline its net loss after tax in the first quarter (Q1) of 2023, according to the company’s financial statement filed to the Egyptian Exchange (EGX) on May 31st.

The company suffered a net loss after tax of EGP 1.226 million in Q1 2023, versus a loss of EGP 1.777 million in Q1 2022.

Net revenues rose to EGP 431,987 in the three-month period ended March 31st from EGP 259,725 in the same period last year.

Arab for Asset Management is an EGX-listed company operating in commercial banking services including deposits, loans, and credit cards, in addition to asset management services including fund management.

 

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