CI Capital reports consolidated revenues of EGP 773m in the third quarter (3Q) of 2021, up 36% y-o-y, with a non-bank financial services (NBFS) contribution of 61%.
The company reported net profit after tax and minority recorded EGP 241m, up 122% y-o-y, with NBFS bottom-line contribution of 31%.
Leasing net profit after tax recorded EGP 57m, Corplease reported new lease bookings of EGP 1.2bn. Outstanding lease portfolio reached EGP 9.8bn in 3Q 2021.
Microfinance net profit after tax was up a significant 72% y-o-y to reach EGP 53m. Total microfinance outstanding loans reached EGP 1.5bn in 3Q 2021, growing 67% y-o-y.
Total branch network increased to 105 branches, with 14 new branches added y-o-y.
CI Capital’s mortgage finance stood at EGP 191m in 3Q 2021, up from EGP 156m in 3Q 2020. Moreover, Souhoola, the Group’s greenfield consumer finance arm, had a portfolio of EGP 104m in 3Q 2021.
Assets under management (AUMs) reached EGP 12.9bn, up 34% y-o-y. Brokerage market share reached 5.1%2 in 3Q 2021, ranking 5th among all brokerage houses. Investment banking advisory revenues recorded EGP 47m, increasing 23% y-o-y.
CI Capital’s Group CEO, Hesham Gohar, commented on 3Q 2021 performance: “The Group delivered another very strong quarter, with record-high net profit of EGP 241 million, representing an increase of 122% y-o-y. We had standout performance from our Investment Bank and Holding with record high revenue and net profit of EGP 309m (4% y-o-y) and EGP 160m (9% y-o-y), respectively, on the back of IB Advisory’s solid performance, stellar returns at the merchant banking level, in addition to resilient performance from the asset management and brokerage businesses.
In 3Q 2021, we again demonstrated the operating strength of our NBFS platform, with the overall financing portfolio reaching EGP 12.3bn, and generating net interest income of EGP 223m, with a blended NIM of 8%.
Building on our solid track record at the merchant banking level, and the success of the Taaleem investment, we are actively pursuing further investments, including strategic, add-on acquisitions that will generate scale and drive our firm’s future prospects.
Looking forward, the opportunity continues to be attractive across all of our businesses and we remain committed to using our resources to drive inclusive solutions by expanding our product offering to support our clients and execute our strategy.”