CI Capital announces strong first half 2024 results

CI Capital announces strong first half 2024 results is profiled by BTW Media because public-source evidence links it to internet infrastructure, governance, operational dependencies, or market visibility.

• CI Capital reported a 61% revenue increase to EGP 5 billion, with a tripled net profit of EGP 1.3 billion in 1H24.
• Despite sector challenges, CI Capital’s subsidiaries Corplease and Reefy, plus its Investment Bank, showed robust growth and resilience.

CI Capital, a frontrunner in Egypt’s diversified financial services sector, has announced its financial results for the first half of 2024, revealing a remarkable 61% year-over-year (y-o-y) revenue increase to approximately EGP 5 billion. Despite facing sector-wide challenges, the Group managed to enhance its operational efficiency and return metrics, resulting in a net profit after tax and minority interest of around EGP 1.3 billion—nearly tripling from the previous year. This success underscores CI Capital’s robust performance and its unwavering commitment to delivering comprehensive financial solutions.

Diverse business lines drive growth across the board

Mahmoud Attalla, Executive Vice Chairman and MD of CI Capital, highlighted the Group’s sustained leadership position, noting the impressive top-line growth and expanding margins. Each of CI Capital’s business lines demonstrated significant improvement, with the Group’s on-balance sheet financing portfolio growing to EGP 20.5 billion. This achievement was made possible through disciplined lending practices and a focus on maintaining the quality and diversity of its non-banking financial services (NBFS) loan book.

Subsidiaries thrive amid sector headwinds

Corplease, CI Capital’s leasing arm, achieved a total outstanding portfolio of EGP 14.9 billion, with revenues climbing 48% y-o-y to EGP 2.6 billion. Meanwhile, Reefy Microfinance Enterprise Services maintained its resilience, recording a net profit after tax of EGP 189 million and serving over 155,000 clients through its extensive branch network. CI Mortgage Finance also saw substantial growth, with its portfolio increasing by 61% y-o-y to approximately EGP 1.3 billion.

Investment banking division posts strong performance

CI Capital’s Investment Bank showcased robust results, with revenues surging 94% y-o-y to EGP 891 million. The brokerage and asset management divisions also reported significant increases in revenues, with total assets under management reaching EGP 66.9 billion—a 20% y-o-y rise. Group CEO Hesham Gohar affirmed CI Capital’s commitment to maintaining consistent performance and pursuing regional expansion initiatives, leveraging the Group’s execution capabilities and global client network.

About CI Capital Holding

CI Capital, a diversified financial services leader in Egypt, offers leasing, microfinance, and investment banking solutions. Based in Cairo with offices in New York and Dubai, it serves a broad clientele including global institutions, family offices, corporates, SMEs, and individual investors. Through subsidiaries Corplease and Reefy, CI Capital provides leasing options and microfinance lending. Its investment banking arm excels in capital raising, M&A advice, asset management, brokerage, custody, and research. Employing over 1,700, the group is guided by seasoned professionals with deep market insight.