Latest news with #sustainable growth
Zawya
2 days ago
- Business
- Zawya
QNB Egypt results support group's strong financial position
QNB Egypt achieved a consolidated net profit growth of EGP15.1bn, a year-on-year increase of 10% and the bank's standalone net profit was EGP14.8bn in the first half (H1) of 2025; demonstrating the QNB Group's strong financial position and the success of its strategy, supporting the sustainable growth its business in the region. QNB Egypt achieved a strong financial performance during H1, reflecting its ability to build on the ongoing success achieved through its international branches and subsidiaries present in more than 28 countries and three continents around the world. "Our continued success is built on solid foundations supported by the strategic diversification of our services across different geographies. This enhances our ability to adapt and grab promising opportunities, in line with QNB Group's strategic goal to grow its market share in international markets," said Heba al-Tamimi, senior executive vice-president, QNB Group Communications. She said its business model has demonstrated strength and resilience against challenges, enhancing the group's financial stability and consistent performance, with a focus on achieving sustainable growth and delivering a long term value to its customers and shareholders. Mohamed Bendier, QNB Egypt chief executive officer, said the financial performance indicators demonstrate a significant leap in growth rates across all business sectors, enabling QNB Egypt to maintain a strong financial position and outstanding performance. "These results are a direct reflection of the strong performance of QNB Group, confirming our leadership in the Egyptian banking sector and contributing to achieving a larger market share," he said. The total loans and advances portfolio increased by EGP42bn, reaching EGP407bn, marking an 11% growth compared to December 2024. Customer deposits reached EGP700bn as at the end of June 2025, an increase of EGP20bn and a 3% growth compared to December 2024, driven by growth across all business lines. Total consolidated assets increased to EGP844bn as at the end of June 2025, an increase of EGP24bn compared to December 2024, a 3% growth. The bank also maintained a capital adequacy ratio of 24.3%, thanks to the implementation of optimal credit policies. The non-performing loan ratio reached 5.23% as at the end of June 2025, while the provision coverage ratio for substandard loans reached 107%. These positive results confirm the efficiency and flexibility of QNB Egypt's executive policies and procedures, which have enabled it to develop its operations and enhance its competitiveness and market share in Egypt through its branch network, which now amounts to 236 branches following the recent opening of its new branch in New Alamein City. The bank's strong financial performance was also reflected in the 11 international awards received this year from prestigious global financial institutions, further affirming its commitment to banking innovation across various sectors and supporting financial inclusion and sustainable economic development. QNB Group currently ranks as the most valuable bank brand in the Middle East and Africa. Through its wide network of subsidiaries and associate companies, the Group provides a comprehensive range of advanced products and services. The total number of employees exceeds 30,000, operating from approximately 900 locations, with an ATM network of more than 4,800 machines. © Gulf Times Newspaper 2025 Provided by SyndiGate Media Inc. (
Daily Mail
5 days ago
- Business
- Daily Mail
City giants: Face-to-face annual meetings vital for share owner rights
Face-to-face shareholder meetings are 'a cornerstone of the financial system' and key to sustainable economic growth, a group of powerful City investors has told The Mail on Sunday. In a big boost to this paper's push to stop annual meetings becoming online-only, the Governance for Growth Investor Campaign (GGIC) says it is 'vital' they operate 'in a way which allows for genuine interaction with shareholders'. The Mail on Sunday is campaigning for all FTSE 100 companies to hold physical annual general meetings (AGMs) in the UK, and to make it easier for shareholders to vote via a platform or nominee so their voices can be heard – a move hailed by retail investor group ShareAction. It follows a trend by firms such as drug giant AstraZeneca, defence contractor BAE Systems and toothpaste-maker Haleon to move their AGMs to a digital-only format, effectively barring share owners from attending in person. On Friday, Nationwide came under fire at its virtual AGM for not allowing any of the 16 million members who own Britain's biggest mutual to attend in person, leading to charges that bosses were not being properly held responsible. 'Virtual-only AGMs make it harder for shareholders to hold firms to account and support the long-term value creation vital for sustainable economic growth,' said GGIC leader Caroline Escott. 'Hearing other shareholders' views, and being heard in turn, without our perspectives being filtered by management, is a key shareholder right,' added Escott, who is head of investment stewardship at train workers' pension fund Railpen. The GGIC is an alliance of pension schemes controlling £150 billion of assets, including BT's retirement fund and the Church of England Pensions Board on behalf of 11 million members. Escott added: 'The right of shareholders, as the owners of capital, to freely and genuinely engage with boards and executives is a cornerstone of our financial system. 'It's therefore vital AGMs are run in a way that allows for genuine interaction with shareholders.' The move to virtual-only meetings is shrouded in legal uncertainty, with Ministers under pressure to clarify the law about the physical location of AGMs. A review is expected later this year. Escott added: 'It's just one of the important shareholder rights that we must protect in the UK if we are to achieve the thriving UK companies, capital markets and economy that we all want to see.' And it's good enough for Warren Buffett! Directors tempted to stage digital-only annual meetings should follow the example of legendary US money manager Warren Buffett, says Ann Francke, head of the Chartered Management Institute. The 94-year-old, pictured right, has turned the in-person meeting of his Berkshire Hathaway fund into 'the focus of his leadership'. Each year, he outlines his strategy and decisions to 40,000 people who pack out an arena in Nebraska. Buffett may be stepping back from his role, but his commitment to openness has won the loyalty of investors, transforming Berkshire from a small textile firm into a $1 trillion conglomerate. The event will continue under Greg Abel, his successor. Francke said that in-person meetings show a willingness in bosses to be held accountable, adding: 'Directors need to be able to look shareholders in the eye: it's hardly much to ask and the process needs to be as inclusive as possible. 'I do believe that we behave differently when we are face-to-face.' It also means bosses have to be more authentic, and cannot avoid awkward issues or angry shareholders.
Yahoo
23-07-2025
- Business
- Yahoo
BirdieBox Reemerges Under New Ownership: A Stronger, More Purposeful Future Begins
IRVING, Texas, July 23, 2025--(BUSINESS WIRE)--BirdieBox, the premium provider of curated corporate gifting solutions, is proud to announce its revitalization under new ownership and leadership - marking a bold new chapter centered on operational integrity, elevated client service, and sustainable growth. Previously, BirdieBox experienced instability and organizational strain that impacted customers, vendors and employees. Recognizing the strength of the brand and the loyalty of its client base, an existing institutional investor has taken active ownership and is leading the company forward with renewed clarity, capital, and commitment. "We're not starting over - we're starting stronger," said Spring Hollis, CEO of Star Strong Capital and interim CEO of BirdieBox. "We believe in this brand's mission, its people, and its potential. Our team has the expertise and appetite for the challenge that turnarounds demand. BirdieBox has a great product - it simply lacked the stewardship to deliver with excellence. That changes now." As part of this transformation, BirdieBox now operates under BirdieBox Holdings, headquartered in Irving, Texas. The company has made key leadership and operational staffing changes to support a more stable and high-performing future, while re-investing in its most experienced and client-loved team members with a renewed commitment to delivering exceptional gifting experiences. BirdieBox has also engaged co-founder and former Chief Strategy Officer behind their most successful years, Michael Myers, to help shape the next chapter, ensuring the core spirit of BirdieBox continues to drive its growth. "BirdieBox was a special place… built on a foundation of client trust and an unwavering quest to craft the perfect user experience," Myers emphasizes. "Somewhere along the way, those things became secondary. It's time to return to the principles of transparency, integrity and execution that once had this company on a fast track to greatness… and this is the leadership team to do just that." With new investment and leadership, BirdieBox is rebuilding with intention - enhancing fulfillment systems, stabilizing timelines, and improving project delivery across every touchpoint. Clients will still enjoy the company's signature white-glove service - branded pop-ups, custom portals, and thoughtfully curated gifting campaigns - now with a foundation built for reliability and excellence. "This is more than a relaunch," Hollis added. "To the clients who've stuck with us, and to the ones giving us a fresh look, we're here to demonstrate the enduring value of personalized gifting experiences." For more information, visit For details about the transition, visit View source version on Contacts For media inquiries, contact Rebecca Louzan at rebecca@ or (781) 635-6719 Sign in to access your portfolio
Reuters
18-07-2025
- Business
- Reuters
Private equity firm CAPZA buys minority stake in DI Environment
July 18 (Reuters) - Private equity firm CAPZA said on Friday that it had agreed to buy a minority stake for an undisclosed sum in DI Environnement, a French company specialising in environmental clean-up services such as removing hazardous material. CAPZA's acquisition highlights the potential growth in this sector as companies seek to develop buildings that use less energy and as governments try and clean up the environment. Consultancy firm Precedence Research forecasts that the global environmental consulting services market will increase to about $92.85 billion by 2034 from $46.67 billion in 2025. "We are pleased to welcome the CAPZA team on board as we embark on the next chapter of our growth journey. CAPZA's deep expertise and proven track record will be instrumental in accelerating our expansion and driving market consolidation. Together, we are confident in our ability to deliver sustainable growth and reinforce our position as the leading French player in de-pollution services," said DI Environnement CEO Hugo Rosati. DI Environnement had 2024 revenues of 110 million euros ($128 million). CAPZA's website says the company - which is part of AXA IM Alts ( opens new tab - has around 9.1 billion euros ($10.6 billion) of assets. ($1 = 0.8592 euros)
Malay Mail
16-07-2025
- Business
- Malay Mail
Tengku Zafrul warns against poor trade deals as Malaysia continues US tariff talks
KUALA LUMPUR, July 16 — The government's negotiating position aims to ensure that any agreement reached supports the country's economic reforms and sustainable growth strategies. Minister of Investment, Trade and Industry (MITI) Tengku Datuk Seri Zafrul Abdul Aziz said negative long-term outcomes are not what the public wants, nor what current and future taxpayers need. 'Catchy, feel-good headlines last a few days, a week at most. However, poor deals will have long-term consequences for our people, industries, and economy. 'Our objective is simple: we want to ensure that any agreement supports an open, rules-based and fair, multilateral trade, with the World Trade Organisation at its core,' he said in his keynote address at the International Healthcare Week (IHW) 2025, here today. The minister emphasised that any agreement should also safeguard market access, while recognising the need for emerging countries like Malaysia to develop sustainable supply chains and economies. 'Just like other countries, we value our economic ties with the United States (US). In 2024, total Malaysia-US trade rose nearly 30 per cent to RM324.9 billion (US$71.4 billion), with Malaysia being an important source for key products such as electrical and electronics (E&E) (+ semiconductors); machinery and equipment; rubber gloves, wood-based products and palm oil,' he said. As trade negotiations are a complex multi-stakeholder process, Tengku Zafrul said relevant ministries and agencies must be consulted to minimise conflict and ensure a smooth implementation post-negotiation. 'For context, the average duration for a regular trade negotiation is 18 months. For MITI, the fastest on record thus far is 11 months,' he said. Tengku Zafrul highlighted several red lines that the MADANI government will not cross in trade negotiations, including sacrificing the country's sovereignty or sidelining other trading partners in trying to close a trade deal. Meanwhile, he said Malaysia still has until August 1 to negotiate with the US regarding the 25 per cent reciprocal tariff imposed by the country thus far. He made this comment in reaction to Donald Trump's recent announcement regarding a 19 per cent reciprocal tariff on Indonesia, which has not yet provided any official statement on the issue. 'I have no further information regarding that (reciprocal tariff rate on Indonesia). What we know is based on the announcement made by the US president. We are now waiting to see what will be announced by the Indonesian side. 'As for Malaysia, we are still in negotiations. We have until August 1, so there is still time. What is important is that any negotiation must ensure mutual benefit for both countries,' he said. — Bernama
