Latest news with #NBFS
News18
2 days ago
- Politics
- News18
Nepal-India relations more than roti and beti, says Deputy PM Singh
Kathmandu, Aug 15 (PTI) Greeting India on the 79th Independence Day, Nepal's Deputy Prime Minister Prakash Man Singh on Friday said New Delhi and Kathmandu's relation is not only confined to 'roti and beti', but also expands to religious, cultural and political dimensions. Singh, who is also the Minister for Urban Development, was speaking at a programme organised in Lalitpur by the Indian Embassy on the occasion of the Indian Independence Day. 'Nepal–India relations are special in characteristics. We have open borders and there is cultural and civilisational proximity," Singh said. 'The bilateral relation is not only confined to 'roti and beti' (trade and marriage) but also expands to religious, cultural and political dimensions. The relations will be refined further through mutual cooperation and collaboration," he added. In an event at the Indian Embassy premises in Kathmandu, the Indian Embassy gifted books to 39 educational institutions and libraries across Nepal marking the 79th Independence Day. These educational institutions and libraries are spread across seven provinces and 21 districts of the country. Indian ambassador Naveen Srivastava, at the same programme, honoured the widows and next of kin of the deceased personnel of the Indian Armed Forces, and handed over AGIF (Amy Group Insurance Funds) cheques with a total value of NRs 64 million, according to a release by the embassy. The members of the Indian community in Nepal, friends of India as well as Indian embassy staff and their family members took part in the Independence Day celebrations at the Indian Embassy, Kathmandu. Meanwhile, at a function organised by Nepal Bharat Friendship Society (NBFS), a host of speakers highlighted the historical, cultural and economic ties existing between Nepal and India since ancient times. They underscored that Nepal and India should understand and honour each other's concerns. Nepal should always honour India's security interest and should not undermine her concerns, remarked Prakash Sharan Mahat, Nepali Congress spokesperson. Nepalese leaders have participated in the Indian Independence movement and in the same manner Indian leaders also extended support to Nepal's democratic movement, said Janata Samajwadi Nepal president Upendra Yadav. He also congratulated the people of India for driving their country towards a global power within a period of eight decades. Deputy head of Indian Embassy, Rarkesh Pandey shed light on various aspects of Nepal-India relations at the programme chaired by NBFS president Prem Lashkery. Vice President Parmananda Jha, Rastriya Prajatantra Party leader Pashupati Shamsher Rana, Rastriya Swotantra Party leader Swornim Wagley and former president of Federation of Nepalese Chamber of Commerce and Industries Bhawani Rana also congratulated the government and people of India on the 79th Independence Day. PTI SBP NPK NPK view comments First Published: August 15, 2025, 22:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Daily News Egypt
08-07-2025
- Business
- Daily News Egypt
CPME shareholders approve EGP 2.8bn acquisition of Qardy, Catalyst Partners Holding
Catalyst Partners Middle East (CPME), Egypt's first licensed Special Purpose Acquisition Company (SPAC), said its shareholders have approved the acquisition of two financial services firms in a share-swap deal valued at EGP 2.8bn. The company's Extraordinary General Assembly approved the acquisition of Qardy for Digital Applications, which specialises in digital financial solutions, and Catalyst Partners Holding, a non-banking financial services (NBFS) firm, CPME said in a statement. Shareholders representing 99.95% of the issued capital unanimously approved the acquisitions, with votes from founders and related parties excluded in accordance with the swap terms, the statement added. The transaction is based on a fair valuation conducted by BDO Keys Financial Consulting, an independent financial advisor accredited by the Financial Regulatory Authority (FRA). CPME said the move aligns with its strategy to build an integrated platform in the NBFS sector, using financial technology to deliver solutions for businesses ranging from large corporates to small and medium-sized enterprises and microenterprises. The general assembly also approved the allocation of proceeds from a December 2024 private placement, conducted through a capital increase, to support the expansion of the company's leasing and factoring activities. The company said the acquisitions are part of a broader expansion strategy to strengthen its position in the non-banking financial services market both locally and regionally. The company's board of directors stated that the strategic move aims to enhance integration among group entities and establish a leading fintech-focused non-banking financial institution that supports financial inclusion and contributes to the country's development goals.
Daily News Egypt
31-05-2025
- Business
- Daily News Egypt
CI Capital reports EGP 381m in net profit for Q1 2025, financing portfolio grows to EGP 23.7bn
CI Capital Holding has announced its financial results for the first quarter (Q1) of 2025, reporting revenues of EGP 2.4bn and net profit after tax and minority interest (NPATM) of EGP 381m. The Group's total on-balance sheet financing portfolio reached EGP 23.7bn, reflecting a 15% year-on-year increase, underscoring continued growth despite ongoing macroeconomic headwinds. Mahmoud Attalla, Executive Vice Chairperson and Managing Director, praised the Group's performance, stating: 'CI Capital has once again demonstrated resilience and agility, delivering solid results amid a challenging environment. The 15% growth in our financing portfolio reflects the strength and diversification of our business model and our leadership in the Egyptian market.' Group CEO Hesham Gohar said that, excluding the impact of foreign exchange, normalized net profit after tax and minority interest rose by 54% year-on-year, while revenues grew by 35% on the same basis. He emphasized that the Group continued to deliver consistent performance across its business lines in a volatile market. NBFS Platform Driving Growth CI Capital's non-banking financial services (NBFS) platform remains the primary engine of growth. Corplease, the Group's leasing subsidiary, maintained its market leadership with a 33% share, reporting a 275% year-on-year increase in new lease bookings totaling EGP 3.9bn. Its outstanding portfolio reached EGP 17bn, up 14% year-on-year, and net profit after tax stood at EGP 223m for the quarter. CI Mortgage Finance recorded an 85% year-on-year increase in its outstanding portfolio, reaching EGP 2.5bn, and disbursed EGP 795m in new loans, marking a 192% increase compared to the same period last year. Revenues rose by 95% to EGP 194m, while net profit after tax reached EGP 29m, up 141% year-on-year. Meanwhile, Reefy Microfinance Enterprise Services continued its expansion, disbursing EGP 957m in new loans and growing its branch network to 189 branches across 21 governorates, serving 135,000 customers. Reefy closed the quarter with a total portfolio of approximately EGP 3.4bn. Investment Banking and Asset Management CI Capital's investment bank also posted a strong quarter, generating EGP 387m in revenues. Its brokerage arm contributed EGP 249m, while asset management revenues rose 10% year-on-year to EGP 88m. Total assets under management (AUMs) reached a record EGP 82.1bn, an 18% year-on-year increase. CI Capital's advisory division played a pivotal role in the investment bank's performance, successfully executing eight major transactions across equity capital markets (ECM), debt capital markets (DCM), and mergers and acquisitions (M&A), with a combined value of EGP 22.4bn in Q1 2025. Gohar concluded by reaffirming the Group's strategic direction: 'With a resilient and diversified portfolio and strong market positioning, CI Capital is well-equipped to navigate economic cycles. We remain committed to delivering innovative financial solutions, expanding our offerings, and reinforcing our regional footprint.'
