|CI Capitals revenues reach EGP 2.6B in FY2019
| CI Capital Holding (CICH) reports today its full-year 2019 consolidated results. Total revenues reached EGP 2.6 billion growing 39.2% year on year and net profitafter tax & minority of EGP 544.8 million growing 46.0% year on year, with a total financing portfolio of EGP 8.2 Billion.
- Total financing portfolio3
- reached EGP 8.2 billion, increasing 9.7% year on year (y-o-y)
- Total revenues reached EGP 2.6 billion, up 39.2% y-o-y, with an NBFS contribution of 83.3%
- Net interest income reached EGP 750.0 million, up 37.1% y-o-y, with a blended NIM of 9.6%
- Net operating profit reported EGP 889.8 million, up 49.7% y-o-y
- Net profit after tax & minority reported EGP 544.8 million increasing 46.0% from its comparable year, with an NBFS contribution to the bottom line of 82.1%
- Total assets reached EGP 10.9 billion, up 14.1% y-o-y
- Registered return on average equity (ROAE) of 21.6%
Non-bank Financial Services Highlights
- Revenue from leasing activities registered robust growth of 68.7% y-o-y to report EGP 1.8 billion
- Net profit after tax reached EGP 418.6 million, increasing 85.9% y-o-y
- Corplease reported new lease bookings of EGP 4.6 million, the highest ever reported.
- Outstanding lease portfolio reached EGP 6.8 billion, growing 10.0% y-o-y
- As 2019 came to an end, Corplease concluded its largest securitization bond issuance in its history amounting to EGP 2.2 billion
- Micro-finance revenues and net profit after tax up 9.0% and 5.8% y-o-y to reach EGP 331.3 million and EGP 112.9 million respectively
- Total microfinance loans outstanding reached EGP 689.7 million at the end of FY 2019, growing 11.8% y-o-y
- Added 14 branches throughout 2019 to close the year with a branch network of 60 branches
- CI Mortgage, the groups newly established mortgage arm, successfully disbursed EGP 84 million in a single quarter
Investment Bank & Holding Highlights
- Assets under management (AUMs) reached EGP 9.5 billion, up 15.5% y-o-y
- Brokerage market share reached 9.7%2 in FY 2019, ranking 2nd among all brokerage houses
- Investment banking advisory revenues recorded EGP 81.2 million, growing 18.3% year on year
Commenting on the FY 2019 performance, Management stated: “We are pleased to announce our results for the full year of 2019, witnessing our strongest year yet on all fronts of the business.
Closing our second year as a listed company, our results reflect the underlying strength of the group companies in generating resilient and recurring revenue streams while diversifying into high growth profile ventures.
Benefiting from an improved operating environment, we have witnessed a solid fourth quarter performance, with our financing business3 portfolio increasing 9.7% y-o-y to reach EGP 8.2 billion at the end of 2019, despite issuing the largest securitization bond in the history of the groups leasing arm. This, coupled with resilient performance from the groups investment banking platform, allowed us to generate strong revenue growth of 39% year on year to reach EGP 2.6 billion and robust bottom-line growth of 46% year on year to reach EGP 545 million.
As we look ahead in 2020, we believe initiatives introduced by the Central Bank of Egypt coupled with a more favorable interest rate environment will serve as a catalyst for growth on both the non-bank financial services and equity capital markets. “
|Time Added: 2020-02-13 13:01:27