ArabFinance: Arab Company for Asset Management and Development (ACAMD) turned to profitability during the full year ended December 31st 2021, according to financial indicators filed to the Egyptian Exchange (EGX) on Wednesday.
The company recorded a net profit after taxes of EGP 8.956 million in 2021, compared to a net loss of EGP 6.083 million in 2020.
On the other hand, revenue skyrocketed to EGP 15.933 million in 2021, from EGP 815,315 the year before.
Arab Company provides commercial banking services including deposits, loans, and credit cards, in addition to asset management services including fund management.