{"id":661554,"date":"2025-03-02T00:00:00","date_gmt":"2025-03-02T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/02\/gb-corp-ci-capital-fawry-telecom-egypt-report-2024-earnings\/"},"modified":"2025-03-02T00:00:00","modified_gmt":"2025-03-02T00:00:00","slug":"gb-corp-ci-capital-fawry-telecom-egypt-report-2024-earnings","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2025\/03\/02\/gb-corp-ci-capital-fawry-telecom-egypt-report-2024-earnings\/","title":{"rendered":"GB Corp, CI Capital, Fawry, Telecom Egypt report 2024 earnings"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Yet more companies are out with their financials for the previous year<\/strong>, with GB Corp, CI Capital, and Telecom Egypt out with their earnings for 2024.<\/p>\n<p class=\"tag-border-left\">GB CORP SEES NET INCOME INCREASE BY MORE THAN 50% IN 2024-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>GB Corp\u2019<\/strong><strong>s net income rose 54.8% y-o-y in 2024<\/strong> <strong>to EGP 2.9 bn<\/strong>, the company said in its <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/12.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The company also recorded a 90.6% y-o-y increase in revenues at EGP 54.0 bn, which the company attributed to \u201cstrong performances\u201d in its GB Auto and GB Capital arms.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">(<strong>Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The breakdown:<\/strong> GB Corp\u2019s GB Auto saw its revenues nearly double y-o-y to EGP 47.1 bn during the year, \u201cdriven by enhanced pricing strategies and an improved product mix.\u201d The group\u2019s NBFS arm GB Capital saw its revenues \u2014 before intercompany eliminations \u2014 rise 49.1% y-o-y to record EGP 7.4 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a 4Q basis<\/strong>, net income increased 82.9% y-o-y to EGP 1.1 bn, while revenues came in 111.1% higher compared to the same period in 2023 at EGP 18.6 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead: <\/strong>\u201cWe will deepen our regional presence by introducing new brands, boosting automation, and further digitalizing our operations to strengthen efficiency and synergies across all lines of business,\u201d CEO Nader Ghabbour said. \u201cOverall, we remain cautiously optimistic about the country's macroeconomic outlook, with the expected relative stability<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">in FX and inflation rates, an imminent CBE easing cycle, the easing of import restrictions, and the gradual recovery in consumer purchase power, all creating a tail wind effect driving growth across GB Corp\u2019s lines of businesses.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">CI CAPITAL SEE NET INCOME MORE THAN DOUBLE IN 2024-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>CI Capital\u2019s net income after minority interest and tax logged EGP 2.2 bn in 2024<\/strong>, rising 115% y-o-y, the company said in a <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/11.pdf\" style=\"\" rel=\"noopener\">press release (pdf)<\/a>. Its corporate leasing arm Corplease saw its net income after tax rise 58% y-o-y to EGP 1.1 bn in 2024<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The company\u2019s total revenues climbed 52% y-o-y, coming in at a record <\/strong><strong>EGP 10 bn<\/strong><strong> last <\/strong><strong>year.<\/strong> Corplease recorded revenues of EGP 4.8 bn for the year, up 30% y-o-y. Revenues from its microfinance arm Reefy rose 30% y-o-y to EGP 2 bn, the group\u2019s investment bank posted a 78% y-o-y increase in revenues to EGP 1.7 bn, while revenues for CI Mortgage Finance rose 124% y-o-y to EGP 532 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The group\u2019s total financing portfolio came in at EGP 22.1 bn in 2024<\/strong>, with Corplease\u2019s outstanding portfolio standing at EGP 15.7 bn, and Reefy\u2019s loan portfolio registering EGP 3.2 bn. CI Mortgage Finance\u2019s outstanding portfolio stood at EGP 1.9 bn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cThese results are a testament to the effectiveness of our strategic initiatives and our model's sustainability, both underpinned by the Group\u2019s diverse, integrated, and market-leading investment banking and nonbanking financial services platforms,\u201d Group CEO Hesham Gohar said. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">FAWRY\u2019S NET INCOME DOUBLES- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>E<\/strong><strong>GX-listed fintech giant Fawry saw its net income jump 124.6% y-o-y in 2024 <\/strong>to record EGP 1.6 bn driven by a 68.4% y-o-y revenue growth to EGP 5.51 bn \u2014 marking its highest topline growth rate since its 2015, the company said in an <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/33.pdf\" style=\"\" rel=\"noopener\">earnings release (pdf)<\/a>. The increase in revenues was the result of \u201cthe expansion and diversification of the Company\u2019s business offerings [and] effective cost control measures.\u201d<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Driving the growth:<\/strong> Fawry\u2019s banking services segment \u2014 which made up 42% of the firm\u2019s revenues for the year \u2014 saw its revenues jump 83.3% y-o-y to EGP 2.3 bn last year. The alternative digital payments segment was the second largest contributor to Fawry\u2019s overall revenues, saw its revenues come in at EGP 1.7 bn, marking a 34.7% y-o-y increase. The company\u2019s financial services segment came in third, growing by 137.7% y-o-y to EGP 1 bn, while revenues from supply chain solutions grew by 53.4% to EGP 347 mn.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>On a quarterly basis: <\/strong>Fawry\u2019s net income stood at EGP 500.1 mn, marking a 118.6% y-o-y increase, during 4Q 2025. The fintech player recorded a 74.4% y-o-y increase in revenues during the quarter, which sat at EGP 1.7 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said: <\/strong>\u201cAs we look to the future, our focus remains on building a multi-sided platform that fosters seamless interactions across our network. Through continuous innovation and service expansion, we are committed to addressing the diverse needs of our customers while driving financial inclusion for Egypt\u2019s unbanked and underserved communities,\u201d said CEO Ashraf Sabry.<\/p>\n<p class=\"tag-border-left\">TELECOM EGYPT SEES REVENUES DIP- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Teleco<\/strong><strong>m Egypt closed 2024 with a 22% y-o-y rise in net income to EGP 14.3 bn for the <\/strong><strong>year<\/strong> \u2014 when excluding EGP 4.9 bn in FX losses and early retirement compensation amounting to EGP 600 mn \u2014 according to the company\u2019s latest <a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/13.pdf\" style=\"\" rel=\"noopener\">earnings release<\/a><a target=\"_blank\" href=\"https:\/\/ent.news\/2025\/3\/13.pdf\" style=\"\" rel=\"noopener\">(pdf)<\/a>. When accounting for FX losses and early retirement payments, net income comes in at EGP 10.1 bn, marking a 14% y-o-y decline.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s a more positive image for the telecom giant\u2019s revenues<\/strong>, with total revenue increasing 45% y-o-y to EGP 82 bn in 2024, which the release attributes to its retail segment driving 52% of revenue growth and making up 54% of total revenue. Its home and consumer segment also registered a similar increase in revenue, registering 45% y-o-y growth throughout the period.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yet more companies are out with their financials for the previous year, with GB Corp, CI Capital, and Telecom Egypt out with their earnings for 2024. GB CORP SEES NET INCOME INCREASE BY MORE THAN 50% IN 2024- GB Corp\u2019s net income rose 54.8% y-o-y in 2024 to EGP 2.9 bn, the company said in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":661555,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","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":[136,302,409,72,519,6543,212],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-661554","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-ci-capital","tag-earnings","tag-earnings-watch","tag-enterpriseam","tag-fawry","tag-gb-corp","tag-telecom-egypt","wpautop","entry"],"acf":{"mongo_id":"b057f72a-9540-4e68-95fb-701cc783ee7b","order":"10","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/3\/24.jpg","photo_position":"above","homepage_title":"","full_issue_title":"GB Corp, CI Capital, Fawry, Telecom Egypt report 2024 earnings","related_issue":[661538],"teaser":"","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.c3f9f0a3-721a-4519-acbc-e57d1de6d3d4.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>GB Corp, CI Capital, Fawry, Telecom Egypt report 2024 earnings - 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\/2025\/03\/02\/gb-corp-ci-capital-fawry-telecom-egypt-report-2024-earnings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GB Corp, CI Capital, Fawry, Telecom Egypt report 2024 earnings\" \/>\n<meta property=\"og:description\" content=\"Yet more companies are out with their financials for the previous year, with GB Corp, CI Capital, and Telecom Egypt out with their earnings for 2024. 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