CI Capital announced on Thursday its consolidated results for the first nine months of 2022, with revenues increasing by 28% to reach EGP 2.5bn, while net profits after tax and minority interest rising by 18% y-o-y to reach EGP 486m.
“CI Capital continued to lead the market across key performance indicators,” said CI Capital’s Chairperson Mahmoud Attalla, adding that “the group delivered an industry-leading return on average equity, strong profitability, and retained well-established market shares across its lines of business.”
“Furthermore, the group’s non-bank financial services platform continued to outperform the market in terms of growth, service offering, and portfolio size. It also reported strong financial and operational results due to the efficiency of its talented workforce and a resilient business model that can weather market challenges. While CI Capital’s flagship investment bank reinforced its position as Egypt’s leading M&A adviser, Corplease continued to reinforce its leadership position, Reefy maintained its performance as the fastest-growing microfinance provider in terms of portfolio and branch network, while CI Capital Mortgage witnessed a strong uptick in its lending portfolio,” he explained.
For his part, Hesham Gohar — CI Capital Holding Group’s CEO — stated: “The flexibility of the group’s business model enables CI Capital to navigate market headwinds and shifts in our operating environment while leveraging our capacity to cross-sell and maintaining our position as a leading financial services group, providing innovative and compelling financial solutions to the market.”
CI Capital’s investment bank delivered solid results across all lines of business. CI Capital’s asset management AUMs increased by 276% y-o-y to reach EGP 48.4bn, investment banking revenues rose to EGP 58m, while CI Capital Securities Brokerage captured a 16.4% market share during the same period.
“The Group continued to lead the Egyptian market with a total on balance sheet financing portfolio reaching a new record-high of EGP 16bn — a 35% y-o-y increase backed by strong growth across all NBFS subsidiaries, which collectively contributed to 82% of the group’s consolidated revenues,” added Gohar.
The Group’s NBFS platform also recorded strong growth across revenues, net profits, and new bookings. Additionally, Corplease’s leasing services reported EGP 271m in net profits while reporting a 28% y-o-y increase in new lease bookings to reach EGP 4.7bn. The company’s outstanding lease portfolio also reached EGP 12.8bn.
Furthermore, Reefy microenterprise services — the Group’s microfinance subsidiary — delivered a set of strong operational and financial results, reporting a 67% y-o-y increase in net profits to reach EGP 241. It also reported a 45% y-o-y growth in total outstanding loans, reaching EGP 2.1bn. Additionally, its network grew by 15 branches, reaching 120 in total across Egypt.
Finally, CI Capital’s mortgage finance subsidiary CI Mortgage stood with a portfolio of EGP 598m — a 206% increase from the EGP 196m recorded in the first nine months of 2021.
