Arab for Asset Management turns to losses in 2022

Updated 3/2/2023 10:05:00 AM
Arab for Asset Management turns to losses in 2022

Arab Finance: Arab Company for Asset Management and Development (ACAMD) incurred net losses after tax of EGP 4.463 million in 2022, versus net profits of EGP 8.956 million in 2021, according to the company’s financial income statement filed to the Egyptian Exchange (EGX) on March 2nd.

Net revenues hit EGP 1.038 million last year, down from EGP 15.933 million in 2021.

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

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