Arab for Asset Management’s losses narrow by 9% YoY in H1

Updated 8/15/2023 9:00:00 AM
Arab for Asset Management’s losses narrow by 9% YoY in H1

Arab Finance: Arab Company for Asset Management and Development (ACAMD) saw an 8.90% year-on-year (YoY) decline its net loss after tax in the first half (H1) of 2023, according to the company’s financial statement filed to the Egyptian Exchange (EGX) on August 15th.

The company suffered a net loss after tax of EGP 2.651 million in H1 2023, versus a loss of EGP 2.434 million in H1 2022.

Net revenues rose to EGP 923,794 in the six-month period ended June 30th from EGP 519,450 in the same period last year.

Arab for Asset Management is an EGX-listed company operating in commercial banking services including deposits, loans, and credit cards, in addition to asset management services including fund management.

Related News