Beltone Holding has seen its nine-month (9M) net profit zoom 1,218% to EGP1.13 billion ($22.9 million) as operating revenue increased 405% year-on-year to reach EGP4.8 billion. 

 

Dalia Khorshid, Group CEO and Managing Director of Beltone Holding, commented: “Achieving record net profit and crossing the EGP1 billion for the first time, is a testament to the group’s ability in delivering on its transformation strategy and to generating growth while delivering sustainable profitability. 

 

“This solid financial and operational performance across all business lines is a direct result of the group’s swift and adaptable data-driven business model, its fully-fledged product offering, and its extraordinary talent.” 

 

Extraordinary growth

Beltone's NBFIs platform witnessed extraordinary growth across all subsidiaries, with operating revenue rising 757% year-on-year to reach EGP3.9 billion in 9M2024. The platform’s outstanding portfolio exceeded EGP 18.7 billion due to increased business activity and the expansion of its product portfolio that includes, leasing, factoring, consumer, micro, mortgage, and the newly-launched SME financing. 

 

Beltone Venture Capital executed six equity and follow-up investments in 9M2024, and successfully increased its managed portfolio to more than EGP1.5 billion. While on the direct investment front, Beltone Capital reported EGP213.4 million in operating revenues. 

 

Furthermore, the investment bank platform’s robust performance continued, with its operating revenue growing 282% year-on-year to record EGP852 million in 9M2024, driven by the expansion of brokerage operations, alternative advisory solutions, and higher asset management performance fees. Meanwhile, the investment bank’s outstanding portfolio reached EGP3.5 billion, up 465% year-on-year.--TradeArabia News Service