Back to the complete issue
Thursday, 17 November 2022

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%).

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; and Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt.