CI Capital’s net income after minority interest more than doubled y-o-y to EGP 320 mn during 1Q 2023, the company said in a press release (pdf) yesterday. The financial services firm’s revenues rose 117% y-o-y to EGP 1.6 bn during the quarter.

Growth across the board: Revenues at CI Capital’s investment bank, leasing arm Corplease, and mortgage finance platform CI Mortgage Finance more than doubled y-o-y. Corplease accounted for almost 60% of the firm’s topline, with revenues rising 143% to EGP 946 mn. Each of CI Capital’s NBFS arms saw solid portfolio growth, driving the company’s total on-balance sheet financing portfolio to EGP 19.6 bn, up 45% on 1Q 2022.

CI Capital’s investment bank “posted a stellar performance,” the release read. Revenues saw a 117% y-o-y jump to EGP 274 mn during the quarter, with the bank advising on a number of high-profile transactions. CI Capital Asset Management saw its assets under management quadruple to EGP 56.9 bn while the company’s brokerage posted EGP 152 mn in revenues, up 135% from last year.

What they said: “CI Capital posted yet another record quarter, kicking off the year with a solid set of financial results that reflect the resilience and flexibility of the group’s business model in the face of market challenges. Yet again, CI Capital’s investment bank continued its growth trajectory across all verticals,” said group managing director Hesham Gohar.

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