Latest news with #CICapital
Zawya
12-05-2025
- Business
- Zawya
Egypt: CI Capital discloses 2024 dividend payout date
Arab Finance: CI Capital Holding for Financial Investments (CICH) will disburse EGP 0.7 per share in cash dividends to shareholders for 2024 earnings, the company stated on May 12th. The dividends will be paid via two installments worth EGP 0.35 per share each: the first to be paid to shareholders on May 29th and the second to be distributed on September 25th. The eligibility for dividend distribution will be for shareholders on a record date of May 26th. CI Capital Holding is one of Egypt's leading non-bank financial services providers. It offers a wide range of solutions, including finance and operating leases, and sale and leaseback, serving a wide range of corporate clients and small and medium-sized enterprises (SMEs). © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
06-05-2025
- Business
- Zawya
CI Capital Successfully concludes the largest corporate bond issuance in the Egyptian Market History for Tasaheel Finance worth EGP2.5bln
Cairo, CI Capital ( the leading diversified financial services group, announced today the successful conclusion of the EGP 2.5bn corporate bond issuance for Tasaheel Finance. Tasaheel's issuance, which received an investment grade BBB+ rating from Middle East Ratings and Investor Services (MERIS), is in two tranches: the first tranche is valued at EGP 2bn with a tenor of 12 months, while the second tranche is valued at EGP 500mn with a tenor of 36 months. 'CI Capital is proud of the successful conclusion of 5 DCM issuances for Tasaheel Finance since 2023 with a total value of EGP 20.29bn, reflecting the strong partnership between both parties. This historical issuance is another example of CI Capital's commitment to offering unparalleled innovative financial and investment solutions to its clients, as well as reflecting its commitment to developing the Egyptian capital market space," commented Amr Helal, Chief Executive Officer (Sell-Side) of the Investment Bank at CI Capital. 'Tasaheel's issuance, the largest corporate bond issuance in the Egyptian market history, is a turning point in the local Debt Capital Markets landscape, as it demonstrates that corporate bonds can act as a reliable financing alternative to traditional financing sources, attracting investments from sources other than the banking sector in the process. This is proven by the fact that 60% of the issuance was covered by non-banking investors, which also highlights CI Capital's strong fundraising abilities,' commented Mohamed Abbas, Head of Debt Capital Markets at CI Capital. CI Capital acted as the issuance manager and bookrunner, while KPMG served as the auditor of the issuance, Maatouk Bassiouny & Hennawy served as the legal advisor and the Egyptian Gulf Bank served as the subscription recipient. About CI Capital Holding for Financial Investments CI Capital Holding for Financial Investments (Ticker: CICH EY, is a diversified financial services group and Egypt's leading provider of leasing, microfinance, mortgage finance, consumer finance, and investment banking products and services. Through its headquarters in Cairo, and presence in New York and Dubai, CI Capital Holding for Financial Investments offers a wide range of financial solutions, to a diversified client base that includes global and regional institutions and family offices, large corporates, SMEs, and high-net-worth and individual investors. CI Capital Holding for Financial Investments leverages its full-fledged investment banking platform to provide market-leading capital raising and M&A advisory, asset management, securities brokerage, custody, and research. Through its subsidiary, Corplease, CI Capital offers comprehensive leasing solutions, including finance and operating leases, and sale and leaseback, serving a wide range of corporate clients and SMEs. Additionally, CI Capital Holding for Financial Investments offers microfinance lending through Egypt's first licensed MFI, Reefy. The Group has over 4,000 employees, led by a team of professionals who are among the most experienced in the industry, with complementary backgrounds and skill sets, and a deep understanding of local market dynamics. Banque Misr, one of Egypt and Africa's most renowned financial banks, is the majority shareholder of CI Capital Holding.
See - Sada Elbalad
25-04-2025
- Business
- See - Sada Elbalad
Egyptian Pound "Stronger than Expected"
Taarek Refaat The International Monetary Fund (IMF) has raised its forecast for the Egyptian pound's exchange rate against the dollar, reflecting an optimistic outlook for the Egyptian economy and the path of ongoing economic reforms. These new adjustments open the door to important economic analyses of the future of the pound and overall economic performance in light of influential local and international shifts. The IMF's latest report revealed a change in its estimates for the Egyptian pound's exchange rate. According to the new forecasts, the average exchange rate to the dollar is expected to reach EGP 49.6 during the current fiscal year, compared to a previous estimate of EGP 50.6. For the next fiscal year, the estimate has been lowered to EGP 52.26, down from EGP 54.89 previously. The dollar is expected to reach EGP 54.1 in the following fiscal year, down from EGP 57.2. Although the Fund does not directly announce these figures, these forecasts are derived from GDP data in local currency and against the US dollar, reflecting a significant improvement in the outlook for the Egyptian pound. The Beginning of Recovery Among the most notable positive points in the report, the Fund forecasts a significant decline in Egypt's current account deficit, starting next fiscal year to $14.24 billion, compared to current estimates of $20.5 billion. This improvement is expected to continue, with the deficit reaching $13.7 billion in 2026/27, before rising slightly again to $14.9 billion the following year. It indicated strong export growth expectations for the next fiscal year, reaching 11.6%, compared to only 5.7% in the current year. Among the positive factors highlighted in the report is the decline in the energy trade deficit, thanks to the decline in oil prices. According to estimates by investment bank CI Capital, every $10 drop in the price of oil below $74 per barrel will reduce the trade deficit by $2 billion by 2025, easing pressure on the economy and giving the pound more flexibility. Regarding financing needs, CI Capital confirmed that Egypt needs between $27 and $29 billion, which will be covered by $10 billion for debt repayments, $10 billion in FDI, and $4 billion in global market financing. The recent adjustments by the IMF, along with positive analyses from local and international experts, indicate an improvement in the Egyptian economy's position and a gradual return of international confidence. However, the challenges are not over yet, and the road to full recovery still requires further reforms, particularly in attracting investment, controlling spending, and achieving a balanced trade balance. What is certain, however, is that Egypt is heading in a more stable direction, amid encouraging indicators and measured optimism about the future of the pound and the economy as a whole. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. Reem Ganzoury Wins Miss Arab Africa Title (VIDEO) Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple
Zawya
18-04-2025
- Business
- Zawya
Egypt: CI Capital to pay $13mln dividends for 2024
Arab Finance: CI Capital Holding for Financial Investments decided to disburse cash dividends worth EGP 700 million for 2024, as per a bourse statement. CI Capital will pay dividends of EGP 0.70 per share in two equal instalments on May 29th and September 25th, respectively. The consolidated net profits attributable to the equity holders jumped by 107.58% year-on-year (YoY) to EGP 2.232 billion in 2024 from EGP 1.040 billion. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
20-03-2025
- Business
- Zawya
Saudi-listed banks set for profit, loans growth until 2027: CI Capital
Egypt-based CI Capital has upped its growth forecast for profit and loans for Saudi-listed banks for 2025 to 2027. The compound annual growth rate for loans has increased to 12.8% from its earlier 10% projection for 2025-2027. 'The market's concerns on profitability pressures are exaggerated,' CI Capital said, given the slow pace of the interest rate cycle reversal compared to the rapid 2022-23 hikes. Positives, including healthy earnings growth (+8% 2025-27 CAGR), have been overlooked by the market, the report said, favouring Saudi National Bank, Saudi Awwal Bank, Riyad Bank and Alinma Bank. Despite a negatively skewed net interest margin (NIM) guidance, the Tadawul-listed banks guided for a positive return on equity (ROE) movement for the year, except Saudi Awwal Bank, supported by higher loan volume, fees, as well as controlled operating and provision expenses. ROE will remain healthy despite an inevitable margin compression, the report said. CI Capital expects NIMs to drop by an average of 21 basis points (bps) for all banks except Al Rajhi Bank and Bank Al Jazira, which will see a 23 bps decline in 2025-2027. Moreover, the cost of risk is forecast to normalise at 50 bps on average over 2025-27 - a reflection of lower recoveries that supported the corresponding 2024 figure of 36 bps. Saudi banks are trading at a steep 22% discount to their 2022 price-to-book peak levels, against an average 16% premium for emerging market banking stocks. Similarly, compared to other sectors on Tadawul, Saudi banks trade at a 27% discount to their 2022 price-to-earnings peak, the report said. (Editing by Brinda Darasha;
