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Sarwa Capital’s net income rises by 51% to EGP 283m in 2018 - Daily News Egypt

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Sarwa Capital’s net income rises by 51% to EGP 283m in 2018

Company’s total portfolio hits EGP 6.bn, achieves ROAE of 30.4%, ROAA of 5%


Egypt Sarwa Capital for financial investments managed to achieve consolidated net income after minority interest of EGP 283m, up by 51% from EGP 187m in 2017, the company announced on Wednesday.

Sarwa Capital, one of the country’s leading consumer and structured finance provider, revealed that the company’s net profit for the fourth quarter (Q4) reached EGP 34.6m, unchanged from Q4 of 2017. While the company’s total portfolio reached the EGP 6.bn mark, and they managed to achieve a return on average equity (ROAE) of 30.4%, and a return on average asset (ROAA) of 5%.

The company’s management said that 2018 was a year full of developments, and that they expect continued strength across their business, while closely monitoring developments and shifts in our underlying asset markets and consumer dynamics as a result of macroeconomic and monetary policy developments. 

“While some volatility is to be expected in the short term, evolving market dynamics present additional opportunities for expansion as demand looks set to pick up. We are also undertaking a substantial investment in technology through a number of initiatives aiming at continuously expanding our audience,” the statement added.

Sarwa capital focuses on personal financing services, as almost 85% of the company’s operations are instalments provided for automobiles, and durable goods. In 2018, Sarwa Capital’s public offering was oversubscribed around 30.1 times, recording a strong demand of EGP 6.5bn, equivalent to 887,409,725 shares, compared with 29,517,073 shares offered.

Topics: Sarwa Capital
https://www.dailynewsegypt.com/2019/02/27/sarwa-capitals-net-income-rises-by-51-to-egp-283m-in-2018/
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