CI Capital records profit of LE 92.2M in Q1 2018



Tue, 08 May 2018 - 11:53 GMT


Tue, 08 May 2018 - 11:53 GMT

Egyptian Currency – File Photo

Egyptian Currency – File Photo

CAIRO – 8 May 2018: CI Capital marked a 36.2-percent increase in its first-quarter consolidated profits in 2018, recording LE 92.18 million ($5.2 million), taking into account minority rights, compared to LE 67.67 million during the same period of 2017.

The company’s financial indicators revealed that the company’s profit after tax and minority recorded LE 81.9 million, with an increase of 35 percent on a year-on-year basis.

The indicators also showed that the consolidated revenues recorded LE 542.1 billion, with an increase of 34 percent on a year-on-year basis.

As per standalone profit, CI Capital’s profit decreased 67.2 percent in Q1 2018 to reach LE 12.85 million, compared to a profit of LE 39.13 million in Q1 2017.

“Our financial results are a testament of how the group evolved during the past couple of years into a leading financial services group with diversified revenue streams generated from a wide range of financial services offered to our clients,” CI Capital Chairman & CEO Mahmoud Attalla said.

Attalla attributed the increase in profits to the strong growth in revenues, saying, “We are very proud of reporting this strong growth while sustaining industry leading annualize return on equity of 35 percent.”

Trading on CI Capital shares in the Egyptian Exchange (EGX) started on Monday, April 30.

The private offering of CI Capital was oversubscribed 6.1 times, reaching LE 1.56 billion, determining the final price for the issuance of the company’s shares at LE 7.70 per share.

The IPO has allocated 22.5 million shares at a total value of EGP 173.7 and it has been oversubscribed 29.5 times.

The listing of CI Capital Holding’s shares was approved by the EGX earlier with an issued capital of LE 411.45 million distributed over 411.45 million shares and a nominal value of LE 1 per share.

CI Capital is an investment bank in Egypt with market-leading investment banking, securities brokerage, asset management and research franchises.



Leave a Comment

Be Social