CI Capital Holding for Financial Investments on Saturday announced its consolidated financial statements for the first half (H1) of 2019, showing revenues of EGP1.1bn, an increase of 35% year-over-year (y-o-y).
CI Capital’s revenues from leasing activities went up 68.9% y-o-y to reach EGP 768.2m in H1 of 2019 with a total outstanding leasing portfolio of EGP 8.1bn at the end of this period, a growth of 53.4% y-o-y.
Meanwhile, the micro-finance revenues and net profit went up 16.8% and 19.0% y-o-y, respectively, to reach EGP 163.5m and EGP 56.7m, respectively. Total outstanding micro-finance loans reached EGP 660m at the end of H1 of the year.
Furthermore, the company achieved a net income after tax of EGP 207.7m, up 38.8% y-o-y, while the profit before tax recorded EGP 308.8m in H1 of 2019, up 30.4% y-o-y.
CI Capital’s net operating profit after tax reached EGP 343.9m, up 30.6% y-o-y, while assets under management (AUM) reached EGP 9.1bn in H1 of 2019, a hike of 10% y-o-y.
In terms of the brokerage marker share, the company’s share reached 9.7% in H1 2019, ranking seond among all brokerage firms.
CI Capital’s investment banking advisory revenues recorded EGP 33.7m.
“During H1 of 2019, the group continued to deliver robust growth in its financing business portfolio which grew 47% y-o-y to reach EGP 9.3bn and was a key driver to achieve solid revenue growth of 35% y-o-y to reach EGP 1.1bn. The investment bank’s performance was negatively impacted by subdued stock market conditions which we expect will improve upon commencing of the monetary easing cycle. The growth in revenues coupled with tight controls on cost has led to a net profit after tax and minority interest of EGP 207.7m, growing 39% y-o-y,” Chairperson and Group CEO, Mahmoud Attalla, commented.
“During H1 of 2019, we have embarked on two new initiatives to expand our financing business offering, namely, mortgage, and consumer finance. Good progress has been made on both initiatives including the hiring of their respective management teams and we are working towards commercial launch before year-end.” he added.
