Cairo – The consolidated net profits after tax and minority interest of CI Capital Holding for Financial Investments hiked by 194% to EGP 939.46 million in the first quarter (Q1) of 2024 from EGP 319.65 million a year earlier.

The company generated revenues valued at EGP 2.86 billion in Q1-24, higher by 79% year-on-year (YoY) than EGP 1.60 billion, according to the consolidated financial results.

Total assets hit EGP 29.68 billion as of 31 March 2024, up from EGP 25.40 billion at the end of December 2023.

Standalone Results

In the first three months (3M) of 2024, CI Capital achieved standalone net profits amounting to EGP 456.22 million, an annual growth from EGP 351.14 million.

Non-consolidated earnings per share (EPS) climbed to EGP 0.41 in Q1-24 from EGP 0.32 in Q1-23, while the total revenues widened to EGP 454.28 million from EGP 416.91 million.

The Group CEO of CI Capital, Hesham Gohar, commented: “The group continued to cement its market-wide leading position with an outstanding lending portfolio amounting to EGP 20.70 billion and continued to surpass its market peers in terms of return on equity, having exceeded 30% in [return on equity] RoE.”

CI Capital’s Investment Bank recorded 104% YoY higher revenues at EGP 528 million in Q1-24, while the brokerage total revenues surged by 178% YoY to EGP 424 million.

In January-March 2024, CI Capital Asset Management witnessed an annual hike of 42% in revenues to EGP 80 million, while total assets under management jumped by 22% to EGP 69.50 billion.

Expansion Plans

Gohar highlighted: “I am happy to announce that we have secured board approval for the expansion of CI Capital into the GCC by setting up an on-the-ground presence for the investment bank in Saudi Arabia and the UAE, two very important markets with robust growth, deepening capital markets and significant investor appetite."

In the 12-month period that ended on 31 December 2023, CI Capital registered higher consolidated net profits at EGP 1.07 billion, versus EGP 865.36 million a year earlier.

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