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Reading: CI Capital’s net profit records 44% growth in 2021
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Dailynewsegypt > Blog > Business > CI Capital’s net profit records 44% growth in 2021
Business

CI Capital’s net profit records 44% growth in 2021

Fatma Salah
Last updated: 2022/03/24 at 2:24 AM
By Fatma Salah 3 Min Read
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CI Capital Holding’s net profit after minority interest reached EGP 681m, a notable 44% growth y-o-y, marking the highest results achieved in the history of the company.

The company’s total financing portfolio stood at EGP11.3bn. 

These figures came in a report CI Capital released on Wednesday detailing its consolidated results for FY2021.

The report added that the company’s leasing net profit after tax recorded EGP 434m, and that its new lease assets under management (AUMs) reached EGP 15.1bn, up by 44% y-o-y.

Furthermore, the brokerage market share reached 6.3% in 2021, ranking 3rd among all brokerage houses.

 Additionally, investment banking advisory revenues recorded EGP 107m, increasing by four times y-o-y.

CI Capital Group CEO Hesham Gohar commented on the report saying: “CI Capital has reported record results across our businesses, benefiting from increased firm wide lending activity and unprecedented IB performance despite headwinds related to the Omicron variant, global interest rate hike expectations, and supply chain bottlenecks.”

“Revenues increased by 56% y-o-y, reaching EGP 3.7bn, and net profit rose by 44% y-o-y, reaching EGP 681, delivering a market-leading return on average equity to our shareholders of 20.6%,” he added. 

“In 2021, we extended EGP 8.5bn in new credit, with a total on-balance sheet financing portfolio reaching EGP 11.3bn after deducting a EGP 2.4bn-securitisation by Corplease by year-end.”

“Our IB results also rose by 4.1 times y-o-y, with the successful execution of six landmark deals worth more than $1.6bn by the advisory arm, brokerage market share gains, stellar AUM growth, and the continued success of our merchant banking platform,” Gohar said.

“We are thrilled to continue growing our merchant banking platform, which concluded the group’s first investment in Egypt’s healthcare sector by acquiring a 27% stake in Cleopatra Hospitals Group in December 2021 through MCI Capital Healthcare Partners — our 60%-owned JV with Banque Misr.”

 

“Looking forward, we remain very excited to further our expansion strategy, introduce new innovative solutions to our clients, and enhance our shareholders’ returns.”

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Popular video-sharing app TikTok was granted by the U.S. government a 15-day extension to reach a deal with U.S. buyers, a federal court filing showed Friday. This means the deadline for ByteDance, TikTok's Chinese parent company, to reach a deal with Oracle and Walmart has been extended from Nov. 12 to Nov. 27, according to the U.S. District Court for the District of Columbia.
TikTok updates its community guidelines
Business
Strong representation of women in TV series of Ramadan 2023
Strong representation of women in TV series of Ramadan 2023
Culture Cinema
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
IFC to invest in Mediterrania Capital Partners’ fund to support African mid-cap businesses
Business
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Sukari gold mine’s production reaches 5.2 million ounces with $7.5bn revenues in February 2023
Business
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