Egypt: MCDR's profits hit $32mln in 2024; revenues jump 34%
Cairo - Misr for Central Clearing, Depository and Registry (MCDR) recorded net profits amounting to EGP 1.69 billion in 2024, according to the financial results.
The strong performance was backed by a 34% year-on-year (YoY) surge in revenue from operations, amounting to an increase of EGP 153.70 million at the end of December 2024.
Additionally, the returns on investments hiked by 78% YoY to EGP 685 million.
Hesham Mabrouk, Managing Director of MCDR, stated: "Financial results for 2024 clearly attest to the success of the institutional development programs implemented by the company, whether through updating technological infrastructure, strengthening governance, or engaging with regulatory reforms.'
'These results are particularly significant as they represent the highest annual profits since the company's establishment, reflecting the strength of its financial performance and reaffirming its position as a leading entity in the Egyptian financial market,' Mabrouk added.
He indicated: 'The company piloted the 'Egypt Clear' application for dividend disbursement, demonstrating our commitment to providing innovative digital solutions that enhance service efficiency and support our digital transformation and financial inclusion strategies."
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