4 days ago
MCDR achieves the highest annual profits since its establishment
Cairo: MCDR announces an exceptional financial performance for the year 2024, with net profits reaching 1.69 billion EGP. This achievement is supported by a 34% growth in revenue from operations, amounting to an increase of 153.7 million EGP compared to 2023, alongside a 78% rise in returns on investments, totaling to 685 million
This strong performance reflects the company's robust growth and strategic initiatives aimed at enhancing market stability and investor confidence. Notably, a comprehensive overhaul of the digital infrastructure and the innovative market solutions have contributed significantly to accelerating daily processes, strengthening cybersecurity measures, and achieving high operational performance.
MCDR has played a pivotal role in supporting the growth of financial markets by providing advanced financial services to all market participants in accordance with the highest international standards. This is part of a comprehensive vision developed by the current Board of Directors to improve institutional performance.
The year 2024 also has also witnessed positive engagement from the company with regulatory decisions issued by the Financial Regulatory Authority, specifically the decision to regulate the Settlement Guarantee Fund. MCDR has implemented flexible and integrated risk management mechanisms in line with modern regulatory environments.
In this context, Engineer Hesham Mabrouk, Managing Director, has 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. Additionally, 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."
The company is scheduled to hold its ordinary general assembly this month to approve the previous year's financial statements and review the proposed profit distribution, amid positive indicators encouraging further expansion and sustainable growth.
It is noteworthy that Misr for Central Clearing, Depository & Registry is an Egyptian Joint-Stock company established under the Capital Market Law No. 95 of 1992 and governed by Central Depository and Registry Law No. 93 of 2000. It is regarded as one of the main pillars in developing the Egyptian Capital Market, playing a vital role in establishing stability, reducing risks, and providing a safe and attractive investment environment.
