ArabFinance: CI Capital Holding for Financial Investments, leading diversified financial services group, announced today its consolidated financial results for the 9-month period ending 30 th of September, 2019.
Commenting on the 9M 2019 performance, Chairman & Group CEO, Mahmoud Attalla stated:
“We are pleased to announce our results for the third quarter of 2019, witnessing strong growth in both of our financing and investment banking platforms. Our results continue to reflect the underlying strength of CI Capital’s ability to generate a resilient and recurring revenue streams by not only investing in and growing existing businesses, but also by expanding into new business lines such as merchant banking, consumer finance, and mortgage finance. The group continued the growth trajectory in the financing business3 portfolio, increasing 53% y-o-y to reach EGP 10.0 billion in September 2019. This, coupled with solid performance from the group’s investment banking platform, translated to solid revenue growth of 31% year on year to reach EGP 1.8 billion and bottom-line growth of 27.3% year on year to reach EGP 337.7 million. We expect that for the remainder of this year and next year both fiscal and monetary stimuluses that have been implemented recently by the government and the Central Bank of Egypt will further support the Group’s growth initiatives and provide a more favorable environment for our business. “
9M 2019 Consolidated Financial and Operational Highlights1
- Total revenues recorded EGP 1.8 billion, up 31.2% year-on-year (y-o-y)
- Net operating profit reached EGP 538.8 million, up 20.8% y-o-y
- Net profit before tax of EGP 493.7 million, up 20.5% y-o-y
- Net profit after tax and minority interest of EGP 337.7 million, up 27.3% y-o-y
- Revenue from leasing activities up 58.2% y-o-y to reach EGP 1.2 Billion with a total outstanding leasing portfolio of EGP 8.7 billion at the end of 9M 2019, a y-o-y growth of 61.1%
- Micro-finance revenues and net profit up 12.1% and 8.1% y-o-y to reach EGP 248.5 million and EGP 84.2 million respectively. Total microfinance loans outstanding reached EGP 656.4 million at the end of 9M 2019
- Assets under management (AUMs) reached EGP 9.3 billion, up 14.3% y-o-y
- Brokerage market share reached 10.2%2 in 9M 2019, ranking 2nd among all brokerage houses
- Investment banking advisory revenues recorded EGP 68.0 million
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