CI Capital Holding Achieves record business results during 2024, its net profits jump by 115%

2/27/2025 12:14:59 PM

CI Capital (CICH.CA), Egypt’s leading diversified financial services group, announced today its exceptional financial results for FY24, reporting record revenues of EGP 10bn, representing a remarkable 52% year-on-year (y-o-y) increase. Concurrently, the Group experienced remarkable growth in margins and profitability, where net profit after tax and minority interest reached EGP 2.2bn, reflecting a substantial 115% y-o-y increase. Moreover, the Group continued its leadership within the Egyptian market, in terms of the overall NBFS lending portfolio which stood at c.EGP 22.1bn by the end of FY24, is a testament to the company’s capabilities to expand while maintaining the quality and diversity of its loan portfolio.

“CI Capital continues to set new benchmarks, by prioritizing innovation and consistently striving for excellence within every financial solution it provides, reinforcing its leadership position and its commitment to long-term success. This is predicated on the Group’s proven ability to navigate volatility across market cycles.CI Capital ended FY24 with an exceptional performance, achieving robust growth in revenues and earnings, which reflects the resilience of our diversified business model and the efficacy of growth initiatives”, Stated Mahmoud Attalla, the Group’s Executive Vice Chairman and Managing Director.

“Bolstered by solid and remarkable growth across all business lines, CI Capital once again delivers a stellar financial performance, with a strong 52% y-o-y surge in group revenues and an exceptional 115% increase in net profit, all evident in our industry-leading ROAE of 36.8%, the highest on record and 2.5x our peers. Our NBFS platform delivered strong results in the context of a challenging economic environment. Additionally, we successfully exited our strategic stake in Taaleem Management Services generating gross proceeds of EGP 1.1bn, 4.5x equity invested, and an almost 50% IRR over a 5-year holding period”, Stated Hesham Gohar, Group CEO of CI Capital Holding.

“These results are a testament to the effectiveness of our strategic initiatives and our model's sustainability, both underpinned by the Group’s diverse, integrated, and market-leading investment banking and non-banking financial services platforms. By maintaining a disciplined approach to cost management, focusing on high-impact innovation, and delivering value to our clients, through customized financial solutions, CI Capital continues to cement its leadership position within the Egyptian market. Finally, I am pleased to announce that the board of directors proposed the distribution of dividends of EGP 0.70 per share,” Added Gohar.

Corplease, the Group’s leasing arm, ended FY24 with a total outstanding portfolio of EGP 15.7bn. Revenues increased 30% y-o-y to reach c. EGP 4.8bn, while net profit after tax recorded EGP 1.1bn, during FY24, a significant y-o-y increase of 58%. New bookings reached EGP 6.9bn, representing a y-o-y increase of 60%.

Reefy Microfinance Enterprise Services continued to thrive in terms of operational and financial results, ending FY24 with a total outstanding loan portfolio of c. EGP 3.2bn, while total revenues increased by 30% y-o-y to reach c. EGP 2 bn. Reefy serves 134k clients through its network of 185 branches, successfully introducing 23 new branches in FY24, spread across 21 governorates.

CI Mortgage Finance concluded FY24 with a 41% y-o-y increase in its outstanding portfolio, recording c. EGP 1.9bn, while extending c. EGP 1.2bn in new loans during this period, representing a 39% y-o-y increase. Revenues grew by 124% y-o-y to reach EGP 532mn, while net profit after tax reached EGP 69mn, representing a 157% y-o-y increase.

CI Capital’s Investment Bank delivered exceptional and stellar results in both the sell and buy-side segments, with revenues up 78% y-o-y, to reach EGP 1.7bn during FY24, while concluding 17 transactions with an aggregate value of EGP 30.4bn, including United Bank’s landmark EGP 4.6bn IPO, Egypt’s first public offering of a commercial bank in over 25 years, demonstrating the strength of our integrated investment bank and the quality of our advisory franchise. Moreover, CI Capital Brokerage grew its revenues significantly by 104% y-o-y to reach EGP 1.25bn; while CI Capital Asset Management continues to achieve top rankings in Egypt, with reported 22% y-o-y increase in revenues to reach EGP 323mn, and a total of assets under management reaching EGP 70.9bn, representing 8% y-o-y growth.

“Through an ever-evolving market environment, CI Capital continues to thrive and excel by expanding both our capabilities and our reach. Our growth is fueled by systematic investment in our workforce as well as our footprint and infrastructure, to attract and retain top-tier calibers in each of our core areas. CI Capital remains optimistic about Egypt's economic outlook while tapping into promising regional opportunities. CI Capital is well-positioned to strengthen its regional footprint, broaden its international presence, and offer its unique services to a diverse global client base,” Concluded Gohar.