{"id":547349,"date":"2022-06-19T04:47:05","date_gmt":"2022-06-19T04:47:05","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/19\/banking-services-led-revenue-growth-for-fawry\/"},"modified":"2022-06-19T04:47:05","modified_gmt":"2022-06-19T04:47:05","slug":"banking-services-led-revenue-growth-for-fawry","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/19\/banking-services-led-revenue-growth-for-fawry\/","title":{"rendered":"Banking services led revenue growth for Fawry"},"content":{"rendered":"

<\/a> Fawry grew its revenue streams in 1Q2022<\/strong>:<\/strong> Fawry\u2019s net income fell 63% y-o-y to EGP 28.2 mn in 1Q2022, according to the company\u2019s latest earnings release (pdf)<\/a>. The fintech giant\u2019s bottom line was impacted by nonrecurring items, including a noncash EGP 19.1 mn expense for its newly introduced employee stock ownership plan (ESOP). Revenues rose 38.4% during the quarter to come in at EGP 483.0 mn.<\/p>\n

The company\u2019s banking services led revenue stream growth in the first three months of the year<\/strong>, more than doubling y-o-y as its agent banking and acceptance business expanded. Fawry also continued to grow its microfinance and supply chain solutions revenue.<\/p>\n

Fawry <\/strong>says the outlook is positive despite the global weather: <\/strong>\u201cFawry continues to leverage the digital transformation of Egypt\u2019s economy to drive rapid growth across our lines of business,\u201d CEO Ashraf Sabry said in the release. \u201cDespite the global macroeconomic instability we have witnessed since the start of the year, Fawry remains as optimistic as ever in the power of digital solutions to create positive outcomes across the Egyptian economy and in the ability of the company to create sustainable value for its shareholders,\u201d Sabry added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fawry grew its revenue streams in 1Q2022: Fawry\u2019s net income fell 63% y-o-y to EGP 28.2 mn in 1Q2022, according to the company\u2019s latest earnings release (pdf). The fintech giant\u2019s bottom line was impacted by nonrecurring items, including a noncash EGP 19.1 mn expense for its newly introduced employee stock ownership plan (ESOP). Revenues rose […]<\/p>\n","protected":false},"author":1,"featured_media":547350,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7208],"tags":[302,409,72,519,183],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547349","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings","tag-earnings-watch","tag-enterpriseam","tag-fawry","tag-fintech","wpautop","entry"],"acf":{"mongo_id":"0e3ac0a8-25ce-4314-bc35-1a5b4e6545af","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/7\/Fawry-1600px.jpg","photo_position":"above","related_issue":[547341],"teaser":"","voice_url":""},"yoast_head":"\nBanking services led revenue growth for Fawry - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/19\/banking-services-led-revenue-growth-for-fawry\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banking services led revenue growth for Fawry\" \/>\n<meta property=\"og:description\" content=\"Fawry grew its revenue streams in 1Q2022: Fawry\u2019s net income fell 63% y-o-y to EGP 28.2 mn in 1Q2022, according to the company\u2019s latest earnings release (pdf). The fintech giant\u2019s bottom line was impacted by nonrecurring items, including a noncash EGP 19.1 mn expense for its newly introduced employee stock ownership plan (ESOP). Revenues rose […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/19\/banking-services-led-revenue-growth-for-fawry\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-19T04:47:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/Fawry-1600px.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/19\/banking-services-led-revenue-growth-for-fawry\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/19\/banking-services-led-revenue-growth-for-fawry\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Banking services led revenue growth for Fawry\",\"datePublished\":\"2022-06-19T04:47:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/19\/banking-services-led-revenue-growth-for-fawry\/\"},\"wordCount\":199,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/19\/banking-services-led-revenue-growth-for-fawry\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2019\/7\/Fawry-1600px.jpg?fit=%2C&ssl=1\",\"keywords\":[\"earnings\",\"earnings watch\",\"EnterpriseAM\",\"Fawry\",\"Fintech\"],\"articleSection\":[\"EARNINGS WATCH\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/19\/banking-services-led-revenue-growth-for-fawry\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2022\/06\/19\/banking-services-led-revenue-growth-for-fawry\/\",\"name\":\"Banking services led revenue growth for Fawry - 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Revenues rose 31% y-o-y during the quarter to EGP 448.3 mn.On a nine-month basis, Fawry\u2019s net income is nevertheless up 25% over the same period last year at EGP\u2026","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/477.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":599468,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/08\/14\/fawrys-bottom-line-nearly-quadruples-in-1h-2023-ibnsina-reports-rise-in-earnings\/","url_meta":{"origin":547349,"position":3},"title":"Fawry\u2019s bottom line nearly quadruples in 1H 2023; Ibnsina reports rise in earnings","author":"enterpriseam admin","date":"14 August 2023","format":false,"excerpt":"Fawry\u2019s banking services segment drove revenue growth, sales at Ibnsina were up on price hikes","rel":"","context":"In "EARNINGS WATCH"","block_context":{"text":"EARNINGS WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/earnings-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/8\/642.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":561261,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/fawry-net-income-surges-81-in-2020\/","url_meta":{"origin":547349,"position":4},"title":"Fawry net income surges 81% in 2020","author":"enterpriseam admin","date":"31 March 2021","format":false,"excerpt":"Fawry\u2019s net income increased 81% y-o-y in 2020 to reach EGP 186 mn, up from EGP 103 mn the year before, according to a company earnings release (pdf). 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