Contact Financial Holding (CNFN) recorded an 11.48% year-on-year decrease in consolidated net profit excluding minority interest for the first quarter (Q1) of 2023, according to the company’s consolidated financial statement filed to the Egyptian Exchange (EGX) on May 29th.

Consolidated net profit attributable to the parent company stood at EGP 135.911 million in Q1 2023, compared to a profit of EGP 153.545 million in Q1 2022.

As per the company’s standalone financial statement, Contact Financial Holding has turned to profits in Q1 2023.

The company achieved a standalone net profit after tax of EGP 61.456 million in the three-month period ended March 31st, versus a net loss of EGP 7.737 million in the year-ago period.

Contact Financial Holding, formerly Sarwa Capital, is a non-bank financial services provider, changing the way people and businesses access finance and insurance.


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