Contact Financial records 5% YoY lower consolidated profits in 2024
Updated 2/26/2025 10:28:00 AM
Arab Finance: Contact Financial Holding generated consolidated net profits attributable to the owners valued at EGP 657.668 million in 2024, an annual drop of 4.98% from EGP 692.207 million in 2023, according to the financial results.
Earnings per share (EPS) retreated to EGP 0.55 last year from EGP 0.58 at the end of December 2023.
Net revenue from portfolio transfer hit EGP 990.849 million in 2024, down year-on-year (YoY) from EGP 1.009 billion.
The standalone net profits after tax plunged to EGP 46.084 million last year from EGP 329.316 million, while the EPS shrank to EGP 0.03 from EGP 0.28.
Meanwhile, Said Zater has decided to conclude his leadership journey as CEO of Contact Financial Holding, assuming a new role as the group’s Vice Chairman and Board Advisor, as per an emailed press release.
In his new role, Zater will continue to provide strategic guidance and insights, backing the group’s strategic direction, boosting institutional learning, and maintaining long-term growth and success.
Contact Financial Holding’s consolidated net profits attributable to the shareholders of the parent decreased by 6.32% YoY to EGP 410.347 million from EGP 438.043 million.
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