Arab Finance: Company announced CI Capital Holding for Financial Investments (CICH)announced its record financial results for the first nine months of 2024; The group's revenues amounted to approximately 7.2 billion Egyptian pounds, a significant increase of 52% on an annual basis.
Mahmoud Atallah, Vice Chairman and Managing Director of CI Capital Holding, stated that the company has concluded the first nine months of 2024 with a continuous increase in revenues and net profit, which reflects the group’s commitment to sustainable growth and demonstrates the strength of the company, along with its diversified financial model that… Proving time and again its ability to adapt to volatile economic challenges, CI Capital continues to outperform its peers in the market by providing innovative financial solutions and investment opportunities, strengthening its leadership. In the Egyptian market.
For his part, Hisham Gohar, CEO of CI Capital Holding, stated that the company was able, during the first nine months of 2024, to achieve strong growth in the group’s revenues by 52% on an annual basis, in addition to an exceptional jump of 116% in net profits, as this The strong performance highlights the company's leading position in the market and its ability to take strategic steps amid the current challenges and changes in the market, thanks to conscious management and a constant focus on innovation and service development, so that CI Capital continues to consolidate Its position and leadership in the diversified financial services sector in Egypt is supported by its methodology in expanding the scope of its services, which enables it to meet the needs of its customers.
Corpliss Leasing Company's portfolio recorded a total of 14.9 billion pounds during the first nine months of 2024, and total revenues reached 3.6 billion Egyptian pounds, an increase of 37% on an annual basis, and net profit after taxes increased by an annual rate of 133% to reach 968 million Egyptian pounds during The first nine months of the year.
Reef Microenterprise Services also continued to achieve strong financial and operational results, as the company’s financing portfolio recorded a total of 3.5 billion Egyptian pounds, an increase of 26% on an annual basis during the first nine months of 2024, and total revenues jumped by 34% on an annual basis to reach 1.5 billion Egyptian pounds, while the company continues to provide its distinguished services to 153,000 customers through 180 branches in 21 governorates.
CI Real Estate Finance concluded the first nine months of the year by achieving a 14% increase on an annual basis in the size of its financing portfolio, reaching approximately 1.6 billion Egyptian pounds. Total revenues also increased by 130% on an annual basis to reach 355 million Egyptian pounds, while The total number of new loans granted to customers reached 716 million Egyptian pounds, and finally the net profit after taxes reached 40 million Egyptian pounds, an increase of 80% year on year.
At the investment bank level, total revenues increased by 79% on an annual basis, reaching approximately 1.26 billion Egyptian pounds by the end of the first nine months of 2024, while total revenues from brokerage activity increased by 123% on an annual basis to reach 946 million Egyptian pounds. CI Capital Asset Management Company achieved an increase in revenues by 23%. On an annual basis, it recorded 253 million Egyptian pounds, while the total volume of managed assets recorded 71.1 billion Egyptian pounds by the end of the first nine months of 2024, which is an annual increase of 15%, while the promotion and IPO coverage activity during the first nine months of 2024 succeeded in completing 10 deals. Diversified, with a total of 16.1 billion Egyptian pounds.
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