Arab Finance: Valu reported a 53% year-on-year (YoY) increase in net revenue to EGP 3.08 billion during the first nine months of 2026, driven by merchant network expansion, securitization gains, and interest income, as per an emailed financial earnings release.
Gross revenue rose 36% YoY to EGP 5.33 billion, while net income grew 35% to EGP 731 million, bringing the annualized return on average equity (ROAE) to 37%.
The company's gross merchandise value (GMV) increased 43% YoY to EGP 24.7 billion, while loan issuances climbed 48% to EGP 21.5 billion across 8.3 million transactions.
Meanwhile, Valu's activated customer base expanded 14% to 993,000 customers, averaging 16 transactions per customer.
Its outstanding principal portfolio rose 46% YoY to EGP 19.04 billion, or EGP 13.5 billion excluding securitized assets. The non-performing loan (NPL) ratio stood at 1.20%, with a coverage ratio of 71%.
As of June 2026, Valu held a 20% share of the Egyptian market.
Commenting on the performance, Walid Hassouna, CEO of Valu, said: “Over the first nine months of 2026, we always deliberately put quality ahead of volume. Our cumulative approval rate tightened to 54.85% from 58.12% in 2025, as a healthier credit book lets us keep lending to customers through every cycle. That discipline gave us room to move on two fronts, seeing strategic investments weigh on near-term results, while vertical and horizontal expansion builds a foundation for sustainable long-term growth."
"With our launch in Jordan, auto financing, and app-based savings, we are taking Valu beyond Egypt for the first time while continuously expanding the local offering. With the SME license in progress, our footprint will expand to reach small and medium-sized businesses, in addition to the car buyers and everyday customers who are already using Valu on the same platform. The result is a more diversified business that better serves our clients,” he added.
As part of its product expansion, Valu introduced El Gameya, an in-app rotating savings service, during the third quarter of 2026. The service distributed EGP 15 million to 225 customers, with an average transaction value of EGP 66,000.
The company also rolled out an instant-cashback loyalty program covering all financed transactions, distributing EGP 45 million across 1.5 million transactions to 338,000 customers.
On the regional front, Valu commenced operations in Jordan, onboarding 126 merchants through 31 campaigns. The business processed 3,060 transactions and issued JOD 1.6 million in approved credit limits, maintaining a 43% approval rate.
To support its growing financing portfolio, Valu completed its inaugural EGP 1 billion corporate bond issuance in August 2026 under a broader EGP 10 billion program. It also secured an EGP 600 million ($12.5 million) facility from the European Bank for Reconstruction and Development (EBRD).
Meanwhile, electric vehicle (EV) financing through its Shift platform surged 313% YoY to EGP 383 million, with EV-related GMV reaching EGP 650 million.
Looking ahead, Valu aims to secure final regulatory approval for small and medium-sized enterprise (SME) financing in Egypt and pilot its Risk Rule Engine 3.0 on 20% of incoming applications.
The company also plans to further expand Shift and El Gameya, strengthen merchant partnerships in Jordan, diversify its funding sources, and evaluate capital options to support regional growth. It expects to issue its first carbon footprint report by the end of 2026.
