Arab Company for Asset Management turns profitable

Updated 11/11/2021 11:28:06 AM

ArabFinance: Arab Company for Asset Management and Development (ACAMD) achieved a net profit of EGP 10.32 million for the period ended September 30th 2021, against a net loss of EGP 4.63 million in the same period of 2020, according to the company’s unaudited financials to the Egyptian Exchange (EGX).

The listed company posted a net loss of EGP 3.048 million in half one (H1) of 2021.

The company suffered a net loss of EGP 6.08 million in 2020, versus a net profit of EGP 46.68 million in 2019.

Arab Company provides commercial banking services including deposits, loans, and credit cards, in addition to asset management services including fund management.