ArabFinance: Fawry for Banking and Payment Technology Services (FWRY) consolidated net profit soared 81% in 2020, excluding minority stake, according to the companys filing to the Egyptian Exchange on March 30th.

Consolidated net profit stood at EGP 186.23 million in 2020, compared to EGP 102.9 million in 2019.

The companys standalone net profit reached EGP 186.59 million last year, compared to EGP 106.68 million in 2019.

During the first nine months of 2020, Fawry achieved a consolidated net profit before minority interest of EGP 119.2 million.

Fawry is an Egypt-based company that provides an electronic payment network. The company allows users to pay bills in multiple channels, such as online, using automated teller machines, mobile wallets, and retail points.

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