press release (pdf)<\/a>. <\/p>\nAuto loans and consumer finance helped drive growth:<\/strong> Contact\u2019s financing division saw itsnet income grow 30% y-o-y to EGP 625 mn in 2023, with new financing rising 46% y-o-y to reach EGP 16.6 bn during the period. New financing in auto loans was up 93% y-o-y, while new financing in its consumer finance segment grew 41% y-o-y. <\/p>\n","protected":false},"excerpt":{"rendered":"EARNINGS- Contact Financial reports \u201cimpressive\u201d results for 2023: Non-banking financial services firm Contact Financial saw its normalized net income rise 14% y-o-y to EGP 693 mn in 2023 on the back of growth in its financing and ins. divisions, the company said in a press release (pdf). Auto loans and consumer finance helped drive growth: […]<\/p>\n","protected":false},"author":1,"featured_media":616579,"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":[7209],"tags":[111,933,409,72,595],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-616578","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-contact-financial","tag-earnings-watch","tag-enterpriseam","tag-non-banking-financial-services","wpautop","entry"],"acf":{"mongo_id":"adc5f043-efc4-430b-bdef-2f91176c1f22","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/3\/636.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Contact Financial\u2019s net income rose 14% y-o-y in 2023","related_issue":[616552],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.12e5d425-8c1a-43de-a878-66682f08adad.mp3"},"yoast_head":"\n
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