CI Capital achieved net profit of EGP 544.8m in 2019, an increase of 46% year-over-year (YoY), with an 82.1% NBFS contribution to the bottom line, according to CI Capital’s 2019 consolidated results.
The company’s total revenue reached EGP 2.6bn in 2019, up 39.2% YoY, with an NBFS contribution of 83.3%.
In terms of CI Capital total financing portfolio, the results showed that it reached EGP 8.2bn, increasing 9.7% YoY.
“CI Capital’s net interest income reached EGP 750.0m, up 37.1% YoY, with a blended NIM of 9.6%, while the company’s net operating profit reported EGP 889.8m, up 49.7% YoY,” according to the company’s consolidated results.
Concerning the total assets of the company in 2019, the results revealed that it reached EGP 10.9bn, up 141% YoY. Furthermore, CI Capital registered return on average equity (ROAE) at 21.6%.
The company’s assets under management reached EGP 9.5bn, up 15.5% YoY, while the brokerage market share reached 9.7% in fiscal year (FY) 2019, ranking 2nd among all brokerage firms.
The results found that the company’s investment banking advisory revenues recorded EGP 81.2m, growing 18.3% YoY.
In terms of non-financial services, the company’s revenue from leasing activities registered a robust growth of 68.7% YoY, to report EGP 1.8 bn, while the net profit after tax reached EGP 418.6m, up 85.9% YoY.
Corplease reported new lease bookings of EGP 4.6m, the highest ever reported, while the results revealed that the outstanding lease portfolio reached EGP 6.8 bn, growing 10.0% YoY.
“As 2019 came to an end, Corplease concluded its largest securitisation bond issuance in its history, amounting to EGP 2.2 bn,” according to CI Capital’s consolidated results.
In terms of the Microfinance, the results showed out that microfinance revenues and net profit were up 9.0% and 5.8% YoY, to reach EGP 331.3m and EGP 112.9m, respectively.
Meanwhile, CI Capital total outstanding microfinance loans reached EGP 689.7m at the end of FY2019, growing 11.8% YoY.
The consolidated results found that CI Mortgage, the group’s newly established mortgage arm, disbursed EGP 84m in a single quarter.
“Benefiting from an improved operating environment, we have witnessed a solid fourth quarter performance, with our financing business portfolio increasing 9.7% YoY to reach EGP 8.2bn at the end of 2019, despite issuing the largest securitisation bond in the history of the group’s leasing arm. This, coupled with resilient performance from the group’s investment banking platform, allowed us to generate strong revenue growth of 39% YoY to reach EGP 2.6bn and robust bottom-line growth of 46% YoY, to reach EGP 545m,” CI Capital’s management commented on the FY2019 performance.
“We look ahead in 2020, we believe initiatives introduced by the Central Bank of Egypt coupled with a more favourable interest rate environment will serve as a catalyst for growth on both the non-bank financial services and equity capital markets,” CI Capital’s management said.