CI Capital revenues up 28% y-o-y in 9M 2022
CI Capital reported a 28% increase in revenues to EGP 2.5 bn in 9M 2022, it said in a statement (pdf) out this afternoon. Net earnings after tax and minority interest rose to EGP 486 mn, up 18% compared with the first nine months of 2021. The group’s investment bank “delivered solid results across all lines of business,” with investment banking revenues coming in at EGP 58 mn in 9M 2022. CI Capital’s non-bank financial services platform — including leasing firm Corplease, microfinance player Reefy, and CI Mortgage — also registered strong growth across revenues, net income, and new bookings.
^^ Look for full coverage of CI’s results in EnterpriseAM on Sunday as we wrap up 3Q earnings season.
The EGX30 rose 1.4% at today’s close on turnover of EGP 2.14 bn (45.9% above the 90-day average). Regional investors were net buyers. The index is up 4.7% YTD.
In the green: Eastern Company (+7.4%), Palm Hills Development (+5.2%) and CIB (+3.3%).
In the red: Ezz Steel (-2.3%), Madinet Nasr Housing (-2.0%) and Cleopatra Hospitals (-1.5%).