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Beltone swings to profit

Beltone swings to profit

ArabFinance: Beltone Financial Holding (BFH) posted a consolidated net profit before minority interest of EGP 3,803,748 in quarter one (Q1) 2021, according to the company’s May 17th financial statements filed to the Egyptian Exchange.

In Q1 2020, the company incurred a net loss of EGP 8,440,713.

Standalone net loss reached EGP 22,391,913 in Q1 2021, a 53% rise from EGP 14,654,346 loss incurred in the prior-year period.

The Central Bank of Egypt (CBE) assigned Beltone management of a fund established to finance financial intermediation companies.

EGP 1 billion is, reportedly, earmarked for the fund. The exact figure is yet to be disclosed.

Beltone is an Egypt-based company, which operates within the diversified financial sector focusing on investment banking and brokerage.

The company develops an online trading platform, called Beltone Trade, as well as provides brokerage services, asset management, investment banking, liquidity services in regional markets, and research and analysis services.

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