ArabFinance: Al Ahli for Investment and Development reported an 88% Year on Year decline in its consolidated net profit in the first nine months of 2020, according to the company’s November 16th financial statements filed to the Egyptian Exchange.

Consolidated net profit before minority interest stood at EGP 1,388,228 in the January-September period of 2020, compared to EGP 11,633,523 achieved in the prior-year period.

Standalone net loss reached EGP 6,203,193 in the January-September period of 2020, a 91% increase from EGP 3,248,690 incurred in the corresponding period a year earlier.

Al Ahly for Investment is an Egypt-based company engaged in the provision of investment services within the Egyptian and regional capital markets. The Company offers its services through six segments of non-banking operations, corporate finance, investment banking, research and analysis, capital markets, and asset management.