Sarwa Capital's net income for 9 months 2019 up 13% from 2018

Separating the insurance business, normalized net profit came in at EGP 292 million for the period ending 30 September 2019, up 18% from the period ending 30 September 2018, and EGP 102 million for the third quarter in 2019, up 1% from EGP 100 million for the third quarter in 2018.

Management commented: “We are pleased to report our interim results for the first nine months of the year, demonstrating solid financials through a period of substantial expansion and important milestones, while navigating volatile asset markets and changing financial markets conditions. Our focus on healthy economics in a tight market, further supported by investments in new capabilities and technologies, puts us in a strong position going forward.

We expect a strong close to the year end and to head into 2020 with robust momentum and with a number of product launches and technological implementations coming into play in both the financing and insurance divisions.”