Contact Financial announces FY-2022 results
- Date: 15-Feb-2023
- Source: Zawya
- Sector:Financial Markets
- Country:Egypt
Contact Financial announces FY-2022 results
- Contact ended FY-2022 on a strong note, delivering solid financial and operational full-year growth in a challenging operating environment faced throughout the last twelve months; normalized net income[1] for 4Q-2022 stood at EGP 205 million, representing an impressive 38% year-on-year expansion
Cairo: Contact Financial Holding SAE (CNFN.CA), Egypt’s largest non-bank financial services provider, announced today its consolidated financial results for the twelve-month period ending 31 December 2022, reporting strong year-on-year operating income growth across its financing and insurance divisions of 33% and 44%, respectively. Meanwhile, consolidated net income recorded EGP 511 million in FY-2022, up a solid 10% from last year’s figure[GS1] , while normalized net income reached EGP 609 million, up 21% year-on-year from FY-2021
FY-2022 Key Financial and Operational Highlights[2]
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FY-2021
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Change
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Financing Division
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Total Portfolio (EGP bn)
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10.31
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14.84
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44%
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Financing Operating Income (EGP mn)
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1,088
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1,445
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33%
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Financing Net Income (EGP mn)
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442
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480
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9%
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Insurance Division
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Gross Written Premiums (EGP mn)
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517
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948
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83%
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Insurance Operating Income (EGP mn)
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136
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195
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44%
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Insurance Net Income (EGP mn)
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36
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54
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50%
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Consolidated Results
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Total Operating Income (EGP mn)
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1,228
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1,643
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34%
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Net Income (EGP mn)
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465
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