Contact Financial Holding’s consolidated profits fall 66.6% YoY in Q1 2024
Updated 5/16/2024 10:01:00 AM
Arab Finance: Contact Financial Holding (CNFN) posted a 66.6% year-on-year (YoY) decline in consolidated net profits attributable to the shareholders of the parent company for the first quarter (Q1) of 2024 to EGP 45.355 million, versus EGP 135.912 million, according to the financial statement.
Net interest income surged to EGP 239.178 million from January through March this year, compared to EGP 129.206 million over the same period last year.
As per the standalone financial statement, the company incurred EGP 3.858 million in net losses after tax in Q1 2024, against net profits of EGP 61.457 million in Q1 2023.
Contact Financial Holding, formerly Sarwa Capital, is a non-bank financial services provider, changing the way people and businesses access finance and insurance.
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