Egypt - The total financing portfolio of CI Capital Holding for Financial Investments jumped by 25% to reach EGP 13.5bn by the end of the first quarter (1Q) of this year, while total assets under management grew by 27% to reach EGP 14.3bn.
The company’s total revenues also jumped during the first three months of this year by 36% to record EGP 763m, compared to 1Q 2021’s EGP 559.6m, while non-banking financial activities contributed about 82% of the revenues.
Furthermore, consolidated profits doubled to record EGP 171.7m, compared to EGP 3.2m.
Additionally, the company concluded new contracts worth EGP 1.9bn — an increase of 41% — bringing the size of the existing leasing portfolio to EGP 10.5bn.
The net profit achieved from microfinance operations bought in EGP 76m — an increase of 84%.
Meanwhile, microfinance lending operations amounted to about EGP 1.8bn — a growth of 60%.
The company has also opened 11 branches since the beginning of the year, bringing the total of branches to 161.
Furthermore, its real estate financing portfolio grew to EGP 366m, compared to EGP 143m.
Additionally, CI Capital Group CEO Hisham Gohar said that the group extended credit facilities amounting to EGP 2.8bn, bringing the financing portfolio of activities to EGP 13.5bn.
He stressed that the group’s business model, which is based on a number of diversified business activities and services, demonstrated the necessary flexibility, supported by the company’s strong budget.
He added that the company will continue to strengthen its position, diversify its product supply, achieve expected growth prospects, in addition to monitoring market developments and assessing the potential impact on the group’s business.
© 2022 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).