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Cairo National for Investment turns to profit

Cairo National for Investment turns to profit

ArabFinance: Cairo National for Investment and Securities posted a consolidated net profit before the minority stake of EGP 1,297,643 in 2020, according to the company’s March 2nd financial statements filed to the Egyptian Exchange.

In 2019, the company incurred a net loss of EGP 23,024,432.

Standalone net loss reached EGP 1,944,541 in 2020, a 49% decline from EGP 3,836,883 reported in 2019.

Cairo National’s board of directors approved the sale of its 40.96% stake in Alexandria National Company for Financial Investment.

Cairo National invests in the start-up business and provides securities exchange-related services. Its main purpose is to promote and underwrite securities, participate in the establishment of companies that issue securities, and portfolio management.

 

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