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Beltone Reports Net Profits of EGP 1.7B for FY2024

Beltone Reports Net Profits of EGP 1.7B for FY2024
Image Source: Beltone Holding
  • Beltone Holding announced its financial results for FY2024. 
  • Net profits reached EGP 1.7 billion, a 4.6x year-on-year increase.
  • This is due to the results it achieved across its NBFI subsidiaries and the strong performance of its Investment Bank Platform.
  • The group also reached EGP 7.2 billion in consolidated revenues, thus delivering 4x its revenue year-on-year. 

Beltone Holding

Beltone Holding, a financial service provider, announced its financial results for FY2024. Beltone’s growth strategy and data-backed business model continue to deliver significant results, such as consolidated revenues reaching EGP 7.2 billion, thus delivering 4x its revenue year-on-year. In terms of profitability, Beltone reached EGP1.7 billion in net profits, thus delivering 4.6x year-on-year growth. This is due to the results it achieved across its end-to-end non-banking financial institutions (NBFI) subsidiaries and the strong performance of its Investment Bank Platform. Moreover, the group’s gross outstanding lending portfolio grew to EGP26.1 billion at the end of FY2024, which is an increase of 2.1x year-on-year. 

“Beltone’s record-breaking performance in 2024 reflects our strategic vision, data-driven approach, and operational efficiency. Our ability to capitalize on digitally scalable opportunities with strong growth potential has strengthened our market leadership. With a focus on innovation, digitalization, and client-centric solutions, we continue to differentiate ourselves, ensuring sustainable growth and long-term value creation.”

Dalia Khorshid, Group CEO and Managing Director of Beltone Holding

NBFI and Investment Bank

The NBFI platform delivered results across all subsidiaries, which increased its market share and revenues. Its operating revenues reached EGP 5.8 billion, meaning it grew nearly 6x year-on-year. This increase was due to the expansion of its product portfolio, in addition to strong performance across leasing and factoring, consumer finance, microfinance, mortgage finance, direct investments, venture capital, and SME financing. In addition to expanding operations, NBFI subsidiaries focused on delivering innovative solutions that adapt to clients’ expectations and evolving needs.

The investment bank’s revenue increased to EGP 1.3 billion in FY2024, meaning that it grew 2.4x year over year. This was due to an expansion in brokerage operations and a 1.3x year-over-year increase in the margin lending portfolio. In addition, the investment bank expanded its service offering to provide a comprehensive range of equity, debt, and greenfield financial advisory services.

Dalia Khorshid, Group CEO and Managing Director of Beltone Holding, “As we move forward, we remain committed to accelerating our digital transformation and strategic expansion into high-growth regional markets, solidifying Beltone’s position as a leading financial powerhouse.”

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