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Rana Mamdouh
CI Capital Holdings has announced its consolidated financial results for the six months ended June 30, 2019.
Total revenues amounted to 1.1 billion EGP, up 34.9% compared to the first half of 2018. Current operating income was established at 343.9 million EGP , up 30.6% from the first half of the previous year.
Net profit before tax was 308.8 million pounds, an increase of 30.4% over the first half of last year, while net profit after tax and minority interests was 207 , 7 million, an increase of 38.8% compared to the first half of 2018.
Revenue from the leasing business increased 68.9% over the first half of the previous year to reach 768.2 million Egyptian pounds, for a total of 8.1 billion GBP, an increase of 53.4% compared to the first half of 2018.
The microfinance business recorded a 16.8% increase in sales and a 19% increase in net profit, which stood at LE 163.5 million and LE 56.7 million. respectively.
The total amount of loans granted to customers amounted to 660 million pesetas at the end of the first half of 2019.
Assets under management amounted to 9.1 billion Egyptian pounds, an annual increase of 10%. The market share of securities brokerage activity reached 2% in the first half of 2019 and ranked second in the securities brokerage market.
Revenues from financial advisory services, IPO promotion and hedging amounted to 33.7 million EGP.
Mahmoud Attallah, chairman of the board of directors and chief executive officer of the group, said the results of this activity are part of the company's strategy to strengthen its operational activities and to look for new opportunities. of growth, thus allowing its services to be provided to a wider customer base, in light of our positive view of the local economy. In addition to the expansionary monetary policy that we plan to implement later this year.
The group continued to post solid performances in its financing activities, recording a 47% growth in the first half of 2019 to reach 9.3 billion EGP, one of the main pillars of revenue growth. group of 35% to 1.1 billion Egyptian pounds over the same period, At the same time, however, the activities of the investment bank were affected by the low volume of transactions on the Egyptian stock market , which should improve once the expansionary fiscal policy has been implemented.
Revenue growth, combined with streamlining of expenses, led to growth in net income after tax and minority interests, up 39% from the previous year, to £ 207.7 million. .
During the first half of 2019, the company expanded its non-bank financing activities by creating a real estate finance company and a financing company for consumer goods and durable goods. It has made progress in the creation of both companies through to the appointment of the management team and the completion of the steps necessary to start the business. Be before the end of this year.
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