The profits of “CI Capital Holding for Financial Investments” decreased by 12% during the past year to reach 475 million pounds, compared to a net profit of one million pounds during the previous year 2019, taking into account the rights of the minority shareholders.
The total combined revenues reached 2.4 billion pounds during the period from January to the end of last December, down 10% compared to the previous year.
While the total financing portfolio increased during the same period to 10.3 billion pounds, achieving a growth of 24% compared to 2019.
The net interest income reached 845 million pounds during 2020, an increase of 13% compared to 2019, while the net interest income margin reached 9.1%.
The operating net profit declined by 8% during the period from January to the end of last December, reaching 850 million pounds.
CI Capital stated that the contribution of non-banking financial services to the net profit amounted to 90%, and 84% to revenues.
With regard to the company’s non-banking banking activities, the financial leasing arm Corbelis achieved a net profit after tax of 413 million pounds during 2020, recording a slight decrease of 1% compared to 2019.
Corbelease registered new contracts worth EGP 4.8 billion during the same period, achieving a growth of 3% compared to 2019.
The size of the existing leasing portfolio increased to 8.5 billion pounds during 2020, achieving an increase of 22% compared to the previous year.
As for the microfinance arm, the net profit after taxes generated from microfinance operations achieved 125 million pounds during 2020, an increase of 11% compared to the previous year.
The total of microfinance loans reached 1,006 million pounds at the end of 2020, an increase of 46% compared to 2019.
It is worth noting that 42 new branches were opened during the year 2020, and thus, by the end of the period, the total number of branches reached 21
As for real estate financing, the volume of the real estate financing operations portfolio amounted to 163 million pounds during the period from January to the end of last December, compared to 156 million pounds in the first nine months of 2020.
With regard to consumer finance, the size of the portfolio of ease, the group’s operations arm, reached 57.8 million pounds by the end of the period.
The company mentioned the results of investment bank activities, as the volume of assets under management reached 10.4 billion pounds, up 10% compared to 2020.
The market share of brokerage operations reached 7.3% ² at the end of the period, with CI Capital occupying the second place among brokerage firms in the local market, while financial advisory services revenues reached 28 million pounds, down 66% compared to the previous year.
Commenting on the group’s performance during the fiscal year 2020, the company’s board of directors said:
“The group achieved flexible performance for the year 2020 despite the challenges it faced during the year, and this was supported by the good performance of the non-bank financial services business portfolio thanks to the strong solvency and good liquidity level of the company.”
He continued: “The finance services sector was able to boost its business portfolio to reach 10.3 billion pounds, with a distinguished annual growth rate of 24%, and net interest income reached 845 million pounds in 2020, an increase of 13% compared to the previous year, and net interest margins reached 9.1%. The combined net profit after taxes and minority stakes amounted to 475 million pounds, a decrease of 12% compared to the previous year.
He said, “The decline in net profit was affected by the market challenges, which negatively affected the rate of growth of our business in the brokerage and investment banking sectors, and the expenses associated with new activities.”
He explained: “On the operational level, Rifi strengthened its presence in the market by increasing the number of its branches by 70% to reach 102, while the loan portfolio reached EGP 1.0 billion by the end of the year, with a good growth of 46% compared to the previous year.
He added: “Corpolis finished issuing securitization bonds worth EGP 2.7 billion, which is the largest deal in its history, which qualifies it to diversify sources of financing while maintaining a strong leasing portfolio. Our new initiatives in the consumer finance and real estate financing sectors continue to expand, with the latter achieving a breakeven point. In 2020 ″.
He pointed out: “Ta’allim Management Services Company, one of the investments of CI Capital Holding for Financial Investments and the first institutional higher education platform in Egypt, continued to achieve good results, as its revenues reached 481 million pounds in 2020, while the profit margin before interest, taxes, depreciation and amortization reached 53% “.
He said: “In February 2021, Taaleem announced its plan to offer part of its shares for subscription on the Egyptian Stock Exchange through an initial public offering.”
He concluded: “We adopt an optimistic view regarding the good position of the group’s business portfolio and its benefits from the continuous improvement in economic activities and capital markets during 2021.”
The article “CI Capital” to win 475 million pounds during 2020 was written in Al-Borsa newspaper.