Latest news with #ContactFinancialHolding
Economic Key
12 hours ago
- Business
- Economic Key
Contact Financial Holding's Insurance Arm Reports Stellar 1Q 2025
Contact Financial Holding ( Egypt's leading non-bank financial services provider, announced today its consolidated financial results for 1Q25. The Group delivered a strong start to the year, boasting a solid 30% y-o-y increase in consolidated operating income, to reach EGP 475 mn, while net income surged by 306% y-o-y closing the first quarter at EGP 59 mn. 'Contact's strong first-quarter results reflect the impact of our strategic pivot toward higher-margin products and the resilience of our business model, supported by gradually improving economic conditions, The Group net income surged by an impressive 306% y-o-y increase, coupled with the exceptional performance from our insurance division, which recorded a 767% increase in net income to reach EGP 43mn.' commented Contact Financial Holding management. The financing division achieved strong results, with operating income growing by 14% y-o-y to EGP 372mn, Additionally, the division's net profit rose to EGP 27 mn, marking an impressive 33% y-o-y increase compared to the same period last year. Meanwhile, the insurance division continued to deliver record-breaking results. Insurance revenue surged by 73% y-o-y to reach EGP 619mn during Q1 2025, while gross written premiums (GWPs) grew by 54% y-o-y to EGP 1.07 bn, maintaining exceptional performance supported by strong results across both Sarwa Life and Sarwa Insurance. This growth contributed to a 242% y-o-y increase in the division's operating income to EGP 109mn, while net income from the insurance division recorded a remarkable 767% y-o-y surge, nearly 9x fold, to 43mn. Contact made strong strides in fintech, with ContactNow app, Egypt's first comprehensive digital financial platform. This momentum reflects the growing demand for Contact's digital financial solutions. A newly launched purchase journey now empowers customers with access to a broad range of financing products, enabling them to apply for loans directly through the app. Flexible payment options, both cash and installments, are also available, supported by strategic partnerships aimed at streamlining the overall user experience تم نسخ الرابط
Zawya
14 hours ago
- Business
- Zawya
Egypt: Contact's consolidated profits jump 305.4%YoY in Q1 2025
Contact Financial Holding recorded 305.408% higher consolidated net profits attributable to the owners at EGP 58.406 million in the first quarter (Q1) of 2025, according to the financial results. The quarterly profits were compared with EGP 14.406 million in Q1 2024. Earnings per share (EPS) increased to EGP 0.05 at the end of March 2025 from EGP 0.01 a year earlier. Meanwhile, net interest income jumped to EGP 269.484 million from EGP 239.178 million. As for the standalone business, the company's net losses hiked to EGP 12.174 million in Q1 2025 from EGP 3.858 million in Q1 2024. Loss per share declined to EGP 0.010 in the first three months of 2025 from EGP 0.003 in the year-ago period. Contact Financial Holding management commented: 'Contact's strong first-quarter results reflect the impact of our strategic pivot toward higher-margin products and the resilience of our business model, supported by gradually improving economic conditions.' 'The group's net income surged by an impressive 306% YoY increase, coupled with the exceptional performance from our insurance division, which recorded a 767% increase in net income to reach EGP 43mn.' © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
16 hours ago
- Business
- Zawya
Contact Financial Holding Reports robust 306% YoY net income surge in financing and insurance divisions in 1Q-25
Contact Financial Holding's Insurance Division Shines in 1Q-25: Net Income Jumps 767% YoY to EGP 43mn Cairo, Contact Financial Holding ( Egypt's leading non-bank financial services provider, announced today its consolidated financial results for 1Q25. The Group delivered a strong start to the year, boasting a solid 30% y-o-y increase in consolidated operating income, to reach EGP 475 mn, while net income surged by 306% y-o-y closing the first quarter at EGP 59 mn. 'Contact's strong first-quarter results reflect the impact of our strategic pivot toward higher-margin products and the resilience of our business model, supported by gradually improving economic conditions, The Group net income surged by an impressive 306% y-o-y increase, coupled with the exceptional performance from our insurance division, which recorded a 767% increase in net income to reach EGP 43mn.' commented Contact Financial Holding management. The financing division achieved strong results, with operating income growing by 14% y-o-y to EGP 372mn, Additionally, the division's net profit rose to EGP 27 mn, marking an impressive 33% y-o-y increase compared to the same period last year. Meanwhile, the insurance division continued to deliver record-breaking results. Insurance revenue surged by 73% y-o-y to reach EGP 619mn during Q1 2025, while gross written premiums (GWPs) grew by 54% y-o-y to EGP 1.07 bn, maintaining exceptional performance supported by strong results across both Sarwa Life and Sarwa Insurance. This growth contributed to a 242% y-o-y increase in the division's operating income to EGP 109mn, while net income from the insurance division recorded a remarkable 767% y-o-y surge, nearly 9x fold, to 43mn. Contact made strong strides in fintech, with ContactNow app, Egypt's first comprehensive digital financial platform. This momentum reflects the growing demand for Contact's digital financial solutions. A newly launched purchase journey now empowers customers with access to a broad range of financing products, enabling them to apply for loans directly through the app. Flexible payment options, both cash and installments, are also available, supported by strategic partnerships aimed at streamlining the overall user experience.
Zawya
12-06-2025
- Business
- Zawya
Egypt: Contact Financial appoints new CEO; total portfolio exceeds $422mln in 2024
Arab Finance: Said Zater has handed over executive leadership to John Saad, who assumed the role of Managing Director and CEO of Contact Financial Holding, according to an emailed press release. This leadership shift coincides with Zater's appointment as Vice Chairman of the group, which ended 2024 with a total financing portfolio exceeding EGP 21 billion. Saad brings more than 20 years of diverse experience in commercial and marketing within the technology sector across various markets. He began his career at one of Egypt's largest telecom companies, where he advanced through several marketing roles before ascending to prominent C-level positions. The new official served as Chief Commercial Officer (CCO) at key companies across Egypt, Qatar, Saudi Arabia, and the UAE. He also held the position of CEO at a leading digital entertainment platform in the MENA region and is the Co-Founder and CEO of one of the region's leading AI-focused companies. Saad commented on his new role: 'It is an honor to be part of this Group, which has achieved a total lending of nearly EGP 75 billion since inception. I look forward to driving excellence by building upon these achievements, prioritizing customer-centricity, and developing innovative financing solutions, while preserving the Group's strong foundation and deeply rooted values." In capital markets, Contact maintained its position as a key player through Sarwa Securitization, as the group successfully closed its 45th bond issuance in 2024, valued at EGP 1.2 billion. Accordingly, the total value of bonds issued in the Egyptian market and backed by portfolios generated by Contact hit around EGP 30 billion through 29 bonds. Contact's insurance division also registered a significant performance, with Sarwa Insurance, Sarwa Life Insurance, and Contact Insurance Brokerage collectively recording Gross Written Premiums (GWP) nearing EGP 7 billion by the end of 2024. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Identity
11-06-2025
- Business
- Identity
Contact Financial Holding Appoints John Saad as CEO, building on the Solid Foundation Laid by Said Zater with Strong FY24
In a strategic move, Contact Financial Holding reaffirmed its ongoing commitment to growth, innovation, and market leadership, as Said Zater has officially handed over executive leadership to John Saad, who assumes the role of Managing Director and Chief Executive Officer of Contact Financial Holding. This leadership shift coincides with Zater's appointment as Vice Chairman of the Group's Board of Directors. The Group has maintained a solid performance over the years, closing FY24 with a total financing portfolio exceeding EGP 21 bn.
