CI Capital (CICH.CA), the leading diversified financial services group, announced today its consolidated results for the first nine months of 2022, with revenues increasing 28% to reach EGP 2.5 billion, and net profit after tax and minority interest, gaining 18% y-o-y to reach EGP 486 million.
“CI Capital continued to lead the market across key performance indicators,” said CI Capital’s Chairman, Mahmoud Attalla. “The Group delivered an industry-leading return on average equity, strong profitability, and retained well-established market shares across our lines of business. Furthermore, the Group’s non-bank financial services platform continued to outperform the market in terms of growth, service offering, and portfolio size.”
“The Group reported strong financial and operational results due to the efficiency of its talented workforce, and a resilient business model that can weather market challenges. While CI Capital’s flagship investment bank reinforced its position as Egypt’s leading M&A advisor, Corplease continued to reinforce its leadership position, Reefy maintained its performance as the fastest-growing microfinance provider in terms of portfolio and branch network, while CI Capital Mortgage witnessed a strong uptick in its lending portfolio,” Added Attalla.
Hesham Gohar, CI Capital Holding’s Group CEO stated, “The flexibility of the Group’s business model enables CI Capital to navigate market headwinds and shifts in our operating environment while leveraging our capacity to cross-sell and maintaining our position as a leading financial services Group, providing innovative and compelling financial solutions to the market.”
CI Capital’s investment bank delivered solid results across all lines of business. CI Capital Asset Management’s AUMs increased 276% y-o-y to reach EGP 48.4 billion at the end of 9M2022. Investment banking revenues reached EGP 58 million in 9M2022, while CI Capital Securities Brokerage captured a 16.4% market share during the same period.
“The Group continued to lead the Egyptian market with total on balance sheet financing portfolio reaching a new record-high of EGP 16 billion in 9M2022, a 35% y-o-y increase backed by strong growth across all NBFS subsidiaries, which collectively contributed to 82% of the Group’s consolidated revenues,” Added Gohar.
The Group’s NBFS platform recorded strong growth across revenues, net profits, and new bookings. Corplease leasing services reported EGP 271 million in net profits during the first nine months of the year, while also reporting a 28% y-o-y increase in new lease bookings to reach EGP 4.7 billion. The Company’s outstanding lease portfolio reached EGP 12.8 billion by the end of 9M2022.
Reefy microenterprise services, the Group’s microfinance subsidiary delivered a set of strong operational and financial results in 9M2022; reporting a 67% y-o-y increase in net profits to reach EGP 241 million. Reefy reported 45% y-o-y growth in total outstanding loans, reaching EGP 2.1 billion at the end of 9M2022. Reefy’s branch network grew by 15 branches in 9M2022, reaching 120 in total across Egypt.
CI Capital’s mortgage finance subsidiary, CI Mortgage stood with a portfolio of EGP 598 million at the end of 9M2022, a 206% increase from EGP 196 million in 9M2021.