Arab for Asset Management turns profitable in 2023

Updated 3/10/2024 12:19:00 PM
Arab for Asset Management turns profitable in 2023

Arab Finance: Arab Company for Asset Management and Development (ACAMD) reported EGP 10.565 million in net profits after tax in 2023, against net losses of EGP 4.464 million in 2024, as per the financial indicators.

The firm’s revenues hiked by 1,979.3% year on year (YoY) last year, registering EGP 21.602 million, from EGP 1.039 million in 2022.

Arab for Asset Management is an EGX-listed company operating in commercial banking services including deposits, loans, and credit cards, in addition to asset management services including fund management.

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