CI Capital plans to launch factoring services in 2022

Alyaa Stohy
1 Min Read

CI Capital Holding will launch factoring services in 2022 which is expected to significantly boost the company’s portfolio, a source in CI Capital told Daily News Egypt on Monday.

He added that this year will see factoring business up and running, with a very solid pipeline whether for leasing or factoring.

As for consumer finance, the source noted that CI Capital’s portfolio reached north of EGP 100m in 9M 2021 versus EGP 40m in 9M 2020. The business has been growing significantly regarding number of clients and portfolio size but still is loss making.

CI Capital had a solid year in terms of advisory business, with closed deals north of $1.6bn, including Taaleem and e-finance IPOs, SODIC acquisition, and stakes sale of BLOM Bank and the ABUK.

This also reflected on the brokerage business and is expected to be sustained throughout 2022 given that the company has a solid pipeline whether in the M&A or ECM side.

Brokerage operations to have higher market share by 50% in 2022 from a current of 9.6%. Management is optimistic on foreign intuitions participation in the market which should bode well for CI Capital since its institution based.

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