Beltone Holding, one of Egypt’s fastest-growing financial institutions, has announced its consolidated financial results for the first half of 2024, revealing a remarkable turnaround in its fortunes. Driven by strategic expansion and a focused growth strategy, the company’s operating revenue surged by an astonishing 818 percent year-on-year, reaching EGP 2.9 billion. This performance marks a significant leap from the same period last year and underscores Beltone’s successful transformation. The company reported a net profit of EGP 817 million for the six months ending 30 June 2024, a stark contrast to the loss of EGP 146 million recorded in the first half of 2023. This turnaround was fueled by robust performances across Beltone’s Investment Bank and Non-Banking Financial Institutions (NBFIs) segments, which together expanded the net operating profit margin to 64 percent. During the second quarter of 2024 alone, Beltone Holding recorded operating revenue of EGP 1.6 billion, reflecting an 822 percent year-on-year increase. Net operating profit during this period reached EGP 1 billion, with the operating profit margin holding strong at 62 percent. “This growth reflects not only our financial success but also the strategic initiatives we’ve undertaken, such as…
Beltone Holding Sustains its Impressive Growth in 1H2024, Operating Revenue Jumps to 818%
August 21, 2024
