Premium Card, the consumer credit market leader, celebrated a sales record exceeding EGP 100 Million achieved during the month of November, while registering a daily sales peak of EGP 8,1 Million during the Black Friday.

Premium Card is led by a strong management team with a proven track-record, who were able to put the right strategy in place and overachieve annual targets.

Paul Antaki, CEO, commented, “We’re glad for having reached the threshold of the 100 Million this November.

This great number is supporting Premium Card objective to achieve its 2019 sales’ target of EGP One Billion.”

Antaki added, “The month of November has always been a benchmark; if we succeed in reaching the previewed target, then we know as a fact, that our next year budget will definitely be attained and most likely exceeded.”

Commenting on Nov 19 performance, Group Co-founder and Board member, Rami Antaki:

“Premium Card focused strategy and offering is once again releasing a robust set of results during the course of 4Q 2019. I am particularly pleased with the pattern of our sales during November, the company continuing to deliver very strong growth in revenues and profitability.

In light of our solid performance during the last months, I am also confident of the company’s ability to meet its operational and financial targets for the full year.”

Looking ahead, while building on its matchless selling proposition, and in line with global financial industry trends, Premium Card is well positioned to benefit from the huge potential of the sector.

The Egyptian consumer credit sector is fairly young with only a few players and the demand supported by Egypt’s large population of 100mn growing annually at rate of 2.4%.

On the back of the CBE monetary easing in 2019-2020, the appetite for consumer finance services will be boosted since it stands out with competitive benefits versus the established bank financing.

It is worth mentioning that Premium Card announced its first short term securitized bonds for EGP 167 million, which consists of a single 10-month tranche. This is the first tranche of Premium’s two-year program of issuing EGP 2 billion short-term securitized bonds.

About Premium Card

Premium International for Credit Services (“Premium Card”) is a pioneer in the consumer finance market introducing the first interest-free installment card in Egypt. Founded in 2002, Premium Card aims at empowering consumers through enhancing their purchasing power.

To date, Premium Card has reached 120,000 cardholders – still growing - sourced through 800+ of major Egyptian corporates among both private and public sector.

Premium Card holders, have access to a large network of more than 5000 stores across Cairo and Alexandria, offering more than 20 different business lines (including electronics, fashion, electrical appliances, tourism, travel services, food ..etc)

Driven by buoyant consumer market dynamics, Premium Card top line has continued to display solid growth, witnessing an expansion of 40% year-on-year, to record EGP 1 bn sales during this year, achieved through above 1.2 million transactions.

Premium Card’s has a registered capital of 100 Million EGP.

© Press Release 2019

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