Beltone to establish new company with LE30M capital

CAIRO – 17 March 2020: The board of directors (BoD) of Beltone Financial Holding approved to set up a new company ‘Beltone SME’ with an initial capital of LE 30 million.

The company clarified in a filing to the Egyptian Exchange (EGX) that the BoD approved the updating of the policy of money laundering, terrorist financing and non-conflict of interest for Beltone Financial Holding Company and its subsidiaries.

Meanewhile, the company recorded an increase in its consolidated losses during 2019 by 11 percent, reaching LE 91.5 million, compared to LE 82.4 million in 2018.

Beltone Financial operates within the diversified financials sector focusing on investment banking & brokerage. Beltone Financial was established in May 2006.