E-finance's Robust Performance: 68.1% Increase in Consolidated Profits

E-finance's Robust Performance: 68.1% Increase in Consolidated Profits

By Staff Writer, 18 November 2023

In a significant financial update, e-finance for Digital and Financial Investments (EFIH) has announced a notable 68.1% year-on-year surge in consolidated net profits after tax and non-controlling interest for the initial nine months of 2023.

The disclosure, made on November 15th, reveals a robust performance by the company during this period.

During the January to September timeframe, the firm's consolidated profits reached EGP 1.14 billion, marking a substantial increase compared to the EGP 682.45 million recorded in the same period last year.

Breaking down the figures, the company reported standalone net profits after tax of EGP 824.74 million for the first nine months of the current year.

This is a notable uptick from the EGP 536.38 million reported in the corresponding period a year ago.

Established in 2005, e-finance holds the distinction of being Egypt's first fintech platform and stands as a leading developer of digital payment infrastructure.

This latest financial performance underscores the company's continued success and prominence in the digital and financial investment landscape.

Source: Zawya

Related Report

Egypt Startup Ecosystem

Egypt's Burgeoning Start-Up Ecosystem

A look at the movers and shakers inside Egypt’s start-up ecosystem that attracted US $491 million in VC funding in 2021, and is expected to break the US $1 billion funding ceiling in 2022.

Subscribe To Our Newsletter

Stay up to date with the latest news, special reports, videos, infobytes, and features on the region's most notable entrepreneurial ecosystems