Egypt: AMAN Holding logs $128mln revenues in 2024
Arab Finance: AMAN Holding, a Raya Holding portfolio company, has unveiled its financial results for 2024 and the first quarter (Q1) of 2025, showing a robust performance and growth across all areas, as per an emailed press release.
This was driven by geographic expansion, technological innovation, and the provision of digital financial solutions tailored to a broad and growing customer base.
To maintain its strong financial position, AMAN increased its capital to EGP 2.065 billion by the end of Q1 2025.
The company achieved revenues of EGP 6.4 billion by the end of 2024, marking a 41% increase compared to 2023, and EGP 1.7 billion in the first quarter of 2025.
In terms of its geographic presence, AMAN expanded its footprint nationwide, operating more than 458 branches across 27 governorates.
Hazem Moghazi, Co-CEO of Business and Commercial Affairs at AMAN Holding, stated: 'The small and medium enterprises (SME) and microfinance segment generated EGP 2.5 billion in revenues and grew by 83% from 2023 to 2024, with total financing of EGP 7.1 billion. Q1 2025 contributed an additional EGP 2.1 billion, supported by our expanding branch network, now reaching 212 branches.'
'Our Islamic finance portfolio continues to grow, with over 5,000 finance deals worth more than EGP 267 million in 2024, and 1.7k+ additional finances worth EGP 83 million in Q1 2025, across 19 branches. In consumer finance, we recorded EGP 5.6 billion in issuances during 2024 and EGP 1.8 billion in Q1 2025,' he added.
'Our digital payments business grew by 32% in 2024, reaching over EGP 58 billion across 560 million transactions. The momentum continued in Q1 2025, achieving 22% growth and totaling EGP 17 billion across 145 million transactions,' Mohamed Wahby, Co-CEO of Products & Technology at AMAN Holding, said.
© 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info).
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
an hour ago
- Zawya
Budget Saudi's board mulls 34% capital increase
Riyadh – The board of United International Transportation Company (Budget Saudi) recommended a 33.74% capital hike, according to a bourse disclosure. The group will distribute 26.05 million shares as bonus shares to shareholders by granting one bonus share for each three owned shares, representing a 33.33% increase in the company's capital. Moreover, the company will allocate an additional 320,000 shares, equivalent to 0.41% of the company's capital raise, for the long-term employee incentive shares program. Accordingly, the new capital will stand at SAR 1.04 billion distributed over 104.54 million shares, compared to SAR 781.66 million and 78.16 million shares. The board member proposed the transaction on 4 June 2025 to support the company's growth and reinforce its financial position. Budget Saudi will capitalize SAR 263.75 million from the retained earnings account. In the first quarter (Q1) of 2025, the company's net profits jumped by 18.13% to SAR 82.76 million from SAR 70.05 million in Q1-24. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (
Zawya
3 hours ago
- Zawya
Qatar Central Bank's foreign reserves grow 3.60% in May 2025
Doha: Qatar Central Bank (QCB) saw a 3.60 percent increase in its foreign currency reserves and liquidity, reaching QR 258.135 billion in May 2025, up from QR 249.165 billion in May 2024. According to figures released by QCB, its official reserves rose by QR 8.706 billion, or 4.57 percent, year-on-year, reaching QR 198.712 billion by the end of May 2025. This increase occurred despite a decline of about QR 6.044 billion in QCB's foreign bonds and treasury bills, which totaled QR 132.902 billion in May 2025. The official reserves include key categories such as bonds and foreign treasury bills, balances with foreign banks, gold, Special Drawing Rights (SDRs), and the State of Qatar's share in the International Monetary Fund (IMF). In addition to the official reserves, there are other liquid assets, namely foreign currency deposits. Together, these components make up what is referred to as the total foreign reserves. As of the end of May 2025, gold reserves increased by nearly QR 16.012 billion year-on-year, reaching QR 44.339 billion, compared to QR 28.327 billion in May 2024. The balance of Special Drawing Rights (SDRs) deposits from the State of Qatar's share with the IMF increased by QR 67 million year-on-year, totaling QR 5.253 billion by the end of May 2025. Balances with foreign banks decreased by nearly QR 1.328 billion, reaching QR 16.416 billion at the end of May 2025, compared to May 2024. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
Gulf Business
2 days ago
- Gulf Business
Abu Dhabi: ADGM assets under management show 33% YoY rise in Q1
Image: ADGM Abu Dhabi Global Market (ADGM) has recorded a strong start to 2025, posting significant year-on-year growth across its ecosystem in Q1, as investor confidence and international interest in the UAE capital's financial centre remain high. Backed by major regulatory developments, global engagement and jurisdictional expansion, 'ADGM's Q1 2025 performance marks the beginning of another landmark year,' said Ahmed Jasim Al Zaabi, chairman of ADGM. 'This is not just a reflection of ADGM's capabilities to deliver sustained growth, but also the trust it has gained among global and regional institutions. 'ADGM continues to expand and diversify with purpose, welcoming leading firms, deepening international partnerships, and driving digital and sustainable transformation across sectors.' At a glance: ADGM's key growth areas in Q1 Assets under management (AUM): AUM grew 33 per cent from Q1 2024. A total of 119 fund and asset managers now manage 184 funds. Licences: The number of new licences issued increased by 67 per cent year-on-year. Entities: Operational entities surged 43 per cent to 2,781. Financial services entities rose 26 per cent to 367. Workforce: More than 29,000 people are now employed on Al Maryah Island, up 17 per cent from the previous year. Work permits: 3,509 new work permits were issued for businesses establishing on Al Reem Island. Expanded international presence and strategic engagements In January, an ADGM delegation attended iConnections Global Alts in Miami, held bilateral meetings in New York and Washington, and joined a panel titled 'Abu Dhabi: The Capital of Capital'. In February, ADGM participated in a high-level UAE-China delegation led by ADDED, supporting efforts to deepen bilateral economic ties. In April, ADGM conducted nearly 30 strategic meetings in Japan with institutions focused on private banking, wealth management and family businesses. Al Reem Island integration and new incentives More than 600 new businesses established on Al Reem Island and 500 existing firms migrated to ADGM licensing during Q1. ADGM revised its fee structure in January, slashing commercial licence fees by 50 per cent or more for non-financial and retail businesses. A flat licence fee of Dhs1,000 was introduced to boost SME access. Digital and blockchain developments In March, ADGM signed an MoU with Chainlink to enable compliant tokenisation frameworks. Stacks Asia and Bitgrit joined ADGM under its DLT Foundations framework. ADGM launched an all-in-one mobile app offering compliance tools, licence renewals and regulatory updates. A new digital real estate platform was introduced, enabling fully virtual sale and purchase transactions. Read: Focus on sustainable finance The Abu Dhabi Sustainable Finance Declaration reached 170 signatories, including Aquila Capital, Century Financial, Oryx Global Partners, PwC and Olive Gaea. The initiative continues to promote ESG integration in the region's financial sector. Human capital and UAE National empowerment ADGM Academy created 800 job placements for UAE Nationals across nine career tracks. Signed strategic MoUs with Arab Youth and the Federal Tax Authority to support upskilling in technology and finance. Published six research papers on the impact of AI in the UAE financial sector via the ADGMA Research Centre. As the financial centre continues its expansion and regulatory innovation, it expects further growth in 2025, particularly from financial markets in Europe and Asia.
