Non-banking financial services firm Contact Financial Holding saw its normalized net income rise 143% y-o-y in 1Q 2025, increasing to EGP 66.2 mn, according to the company’s latest earnings release (pdf). The strong performance was underpinned by a standout quarter for the group’s ins. arm, with additional support from a shift toward higher-margin products at its financing division.

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The breakdown: The group’s ins. division saw its net income jump 767% y-o-y during the quarter to EGP 43 mn, as the division “continued to benefit from the success of our strategic investments, achieving strong growth through an expanded market presence, enhanced cross-selling capabilities, and a diversified product offering.” Meanwhile, the financing segment saw its net income grow 33% y-o-y in 1Q 2025 to EGP 27 mn. New financing at the auto, trucks, mortgage, and working capital segments saw declines, though medical lending increased 181% y-o-y due to “an increase in medical businesses from factoring,” the company said.

What they said: “While overall volumes were moderated by our deliberate shift in focus towards higher-margin products, we successfully maintained our momentum, supported by gradually improving market conditions and a more stable macroeconomic environment,” the company’s management said. “As we head further into 2025, we are optimistic that the positive momentum will continue, and we remain confident in our ability to deliver on the group’s short and long-term targets.”

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