CI Capital reports strong FY23 results

CI Capital reports strong FY23 results

CI Capital, a premier diversified financial services group, today disclosed its FY23 financial outcomes, showcasing a 68% year-over-year revenue surge to EGP 6.6bn. Net profits after tax and minority interest climbed by 31% year-over-year, reaching EGP 1.04bn. The group’s total on-balance sheet financing portfolio concluded the year at EGP 18.3bn, marking a 4% year-over-year increment, following a EGP 4bn securitization of its portfolio.

“CI Capital’s exceptional performance this year was propelled by robust growth across all business sectors, despite complex challenges such as interest rate hikes, heightened inflation, and a deceleration in deal-making activities. Our record-breaking results, both in revenue and profit, reflect CI Capital’s expansive scale, versatile business model, solid liquidity, and our team’s unwavering commitment,” stated Hesham Gohar, CI Capital’s Group CEO.

Gohar added: “Even after securitizing EGP 4bn from our portfolio, we managed to foster growth within our NBFS portfolio across diverse lending platforms. Additionally, our merchant banking division has been enhancing value through investments in education and healthcare services. This year, CI Capital has emerged as Egypt’s top asset manager and a leading advisor in ECM, M&A, and DCM, surpassing market peers in cost-to-income ratios and return on average equity.”

Corplease, the group’s leasing subsidiary, finalized its 13th securitization