Beltone, Egypt records 161% YoY profit growth in 9 months

Beltone, Egypt records 161% YoY profit growth in 9 months

Beltone Financial Holding achieved robust growth of 161% year-on-year (YoY) in net profit for the first nine months of 2023, recording EGP 86 million, versus a loss of EGP 140 million, according to an emailed press release.

Operating Revenue jumped by 271% YoY to EGP 957 million on the back of strong operational performance across the non-banking financial institutions (NBFIs), along with the investment bank and other ventures.

Meanwhile, the NBFIs operating revenue hit EGP 478 million in the nine months to September 2023, marking a growth of 680% YoY.

As for the investment bank operating revenue, it stood at EGP 198 million, while the securities brokerage margin lending portfolio rose to EGP 621 million.

The company’s assets under management (AUM) amounted to EGP 23 billion at the end of September.

 

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