Beltone Holding’s net profits jump 384.78% YoY in 2024
Updated 2/3/2025 9:34:00 AM
Arab Finance: Beltone Holding achieved net profits valued at EGP 1.7 billion in 2024, delivering 384.78% year-on-year (YoY) growth, compared to EGP 369.22 million, according to the financial results.
The higher profits were backed by solid results across its NBFIs subsidiaries and the strong performance of its Investment Bank platform.
Consolidated revenues jumped to EGP 7.2 billion in 2024, driven by Beltone’s growth strategy and data-backed business model.
Meanwhile, the gross lending portfolio increased by 2.1% YoY to EGP26.1 billion at the end of 2024.
Dalia Khorshid, Group CEO and Managing Director of Beltone Holding, commented: “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.”
Revenues of the Investment Bank Platform rose by 2.4% to EGP 1.3 billion in 2024, supported by an expansion in brokerage operations and a 1.3% YoY increase in the margin lending portfolio.
In the first nine months of 2024, the consolidated net profits attributable to the owners of Beltone Holding hiked by 1,218.15% YoY to EGP 1.130 billion from EGP 85.777 million.
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