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CI Capital’s 9M-23 consolidated profits exceed EGP 771m; revenues leap 87%

CI Capital’s 9M-23 consolidated profits exceed EGP 771m; revenues leap 87%
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CI Capital Holding
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Cairo – Mubasher: The consolidated net profits after tax of CI Capital Holding for Financial Investments reached EGP 771.22 million in the first nine months (9M) of 2023.

The recorded net profits were higher year-on-year (YoY)  than EGP 520.01 million, according to the consolidated financial results.

Revenues hiked by 87% YoY to EGP 4.71 billion in the January-September 2023 period from EGP 2.43 billion.

Total assets amounted to EGP 27.63 billion in 9M-23, versus EGP 23.84 billion as of 31 December 2022.

Standalone Business

The EGX-listed company recorded an annual leap in standalone net profits after tax to EGP 414.83 million during January-September 2023, compared to EGP 194.40 million.

The revenues enlarged to EGP 541.04 million in 9M-23 from EGP 324.89 million a year earlier, while the earnings per share (EPS) grew to EGP 0.37 from EGP 0.17.

Financials for Q3-23

During the third quarter (Q3) of 2023, CI Capital posted consolidated net profits after tax valued at EGP 239.32 million, an annual surge from EGP 153.64 million.

Total revenues jumped to EGP 1.60 billion in Q3-23 from EGP 904.23 million in the year-ago period.

In July-September 2023, the firm turned to non-consolidated net losses after tax amounting to EGP 22.47 million, against profits of EGP 1.15 million in Q3-22.

Non-consolidated revenues widened to EGP 2.42 million from EGP 756,882.

Hesham Gohar, the Group CEO of CI Capital, said: “CI Capital reported a strong set of results for 9M-23, driven by the resilience of our business and our product diversification strategy, as well as robust operational and financial performance of all subsidiaries – on both the investment bank and NBFS platforms – which reinforces our position as Egypt’s leading diversified financial services group.”

“We also continue to lead the market in terms of key metrics, having generated market-leading growth rates and ROE. We continue to deploy our resources efficiently to navigate the challenges in the markets in which we operate, in addition to recent regional geo-political instability, while remaining cautiously optimistic about the future,” Gohar added.

During the first half (H1) of 2023, CI Capital registered EGP 532 million in consolidated net profit after tax, compared to EGP 366.36 million in H1-22, including minority interest.