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Arab Company for Asset Management loss reaches EGP 2M

Arab Company for Asset Management loss reaches EGP 2M

ArabFinance: Arab Company for Asset Management and Development (ACAMD) posted a net loss of EGP 1.858 million in quarter one (Q1) 2021, according to the company’s May 11th financial statements filed to the Egyptian Exchange.

In Q1 2020, the company incurred a loss of EGP 209.835 million.

Arab Asset Management’s board of directors approved the sale of its 58,000-square-meter land in Minya governorate.

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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