Latest news with #Fawry
Zawya
2 days ago
- Business
- Zawya
Contact reports 306% higher consolidated net income in Q1-25
Cairo: Contact Financial Holding achieved consolidated net income worth EGP 59 million in the first quarter (Q1) of 2025, marking an annual leap of 306% from EGP 14 million. Meanwhile, the insurance revenues hiked by 73% year-on-year (YoY) to EGP 619 million as of 31 March 2025 from EGP 357 million, according to the financial statements. The total operating income rose by 30% to EGP 475 million in Q1-25 from EGP 365 million during the January-March period of 2024. The group's gross written premiums (GWPs) surged by 54% YoY to EGP 1.07 billion in the first three months (3M) of 2025 from EGP 696 million. Standalone Results The non-consolidated net losses of Contact widened to EGP 12.17 million as of 31 March 2025 from EGP 3.85 million in Q1-24. The standalone loss per share increased to EGP 0.010 in Q1-25 from EGP 0.003 in the same period a year ago. The company's management commented: 'As we progress through 2025, we are confident that this positive momentum will continue, aided by stabilizing inflation, easing interest rates, and an overall improvement in economic conditions.' 'Our financing division delivered a resilient performance during the quarter, reflecting the positive impact of our strategic shift towards more profitable offerings,' it added. In March, Contact joined forces with Fawry to enable its buy now, pay later (BNPL) service across Fawry's payment network, backing Egypt's vision to accelerate digital transformation and expand financial inclusion.
Zawya
17-06-2025
- Business
- Zawya
Fawry sees $400,000 trading transaction on EGX for ESOP
Fawry for Banking Technology and Electronic Payment witnessed a trading transaction valued at EGP 19.915 million, the Egyptian Exchange (EGX) announced on June 17th. The transaction was executed on the company's issued 3.493 million shares as part of the employee stock ownership plan (ESOP). In the first quarter (Q1) of 2025, Fawry reported 97.13% year-on-year (YoY) higher consolidated profits attributable to the parent company at EGP 605.378 million, compared to EGP 307.089 million. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
29-05-2025
- Business
- Zawya
Fawry MSME Finance closes first securitized bond issuance at $10mln
Cairo – Fawry MSME Finance, a fully owned subsidiary of Fawry for Banking Technology and Electronic Payments, completed its first securitization issuance at a value of EGP 497.50 million, according to a press release. CI Capital served as the financial advisor, arranger, issuance manager, and bookrunner for the transaction, which aligns with the unit's objectives to support the growing demand for credit among Egypt's MSME sector. The bond issuance is approved by the Financial Regulatory Authority (FRA) and rated 'A-' by Middle East Ratings and Investor Services (MERIS). The offering was structured as a single tranche totaling EGP 497.50 million with a tenor of 13 months. Alexander Levchenko, CEO of Fawry MSME Finance, said: 'This securitization is a strategic step in our mission to scale our lending operations and provide greater access to finance for MSMEs across Egypt.' Amr Helal, CEO of the Investment Bank (Sell-Side) at CI Capital, noted: 'The success of this issuance reflects CI Capital's ongoing efforts to reinforce its leadership position in financial services, as well as its ability to develop capital ecosystem by bringing new clients to the debt markets.' Ashraf Sabry, CEO of Fawry, commented: "Achieving an A-rating from MERIS in our first issuance is a testament to the credibility of our underwriting practices and the strength of our portfolio. It also signals growing market confidence in the MSME lending space." As of 31 March 2025, FAWRY's net profits after tax and non-controlling interest (NCI) hiked by 97.10% year-on-year (YoY) to EGP 605.37 million from EGP 307.09 million.
Zawya
28-05-2025
- Business
- Zawya
CI Capital successfully concludes the first securitization bond issuance for Fawry MSME Finance with a total value of EGP497.5mln
Cairo, CI Capital ( the leading diversified financial services group, announced today the successful conclusion a securitized bond issuance worth a total of EGP 497.5 million for Capital for Securitization, in which Fawry MSME Finance is the originator and assignor of the portfolio. Fawry's issuance, which received an investment grade A- rating from Middle East Ratings and Investor Services (MERIS), was issued as a single tranche with a value of EGP 497.5mn and a tenor of 13 months. Amr Helal, CEO of the Investment Bank (Sell-Side) commented: 'This landmark transaction marks the first-ever securitized bond issuance for Fawry Microfinance. It stands as a powerful testament to CI Capital's long-term vision of empowering companies with access to sustainable financing solutions that support their growth ambitions. We remain deeply committed to playing a leading role in advancing Egypt's debt capital markets and promoting securitization as a dynamic financing tool that fosters the development of both productive and service-oriented sectors—especially the rapidly growing microfinance space.' Helal further added: 'We are proud of such a strategic partnership with Fawry, a leading player in Egypt's non-banking financial services sector. This issuance represents a significant milestone in our ongoing collaboration, reflecting the deep mutual trust between our institutions. It also underscores CI Capital's proven ability to structure and deliver complex, market-responsive transactions tailored to meet the evolving needs of our clients.' Moreover, Helal commended the significant efforts of CI Capital's debt capital markets team, as well as all parties involved in the successful completion of this issuance. Mohamed Abbas, Executive Director - Head of the Debt Capital Markets at CI Capital, expressed his pride for completing the first securitized bond issuance for Fawry Microfinance. He noted that this issuance is part of CI Capital's broader strategy to attract new companies to the local debt capital markets. Abbas reflected on the valuable partnership between CI Capital and Fawry Microfinance, which will lead to further fruitful collaboration, contributing to the company's notable growth in the non-banking financial services sector. CI Capital acted as the financial advisor, lead arranger, issuance manager, and bookrunner, while EG Bank acted as the custodian, Russel Bedford as the issuance's auditor, and Maatouk Bassiouny & Hennawy as the legal advisor. About CI Capital Holding for Financial Investments CI Capital Holding for Financial Investments 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. In addition, CI Capital Holding for Financial Investments offers microfinance lending through Egypt's first licensed MFI, Reefy. The Group has over 3500 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.
Zawya
28-05-2025
- Business
- Zawya
Egypt: Fawry MSMEs issues 1st securitized bond at $10mln
Arab Finance: Fawry for Micro, Small, and Medium Enterprises (MSMEs), a wholly owned subsidiary of Egypt's financial technology company Fawry, has completed its first securitized bond issuance, raising EGP 497.5 million, as per an emailed press release. The transaction represents the first tranche of a broader securitization program intended to support the company's financing plans and provide funding for Egypt's SME sector. Backed by a portfolio of secured financial rights, the issuance reflects the credit standards and lending policies followed by Fawry MSMEs. The bond was structured in a single tranche with a 13-month maturity and received an A- rating from Middle East Ratings and Investor Services. The issuance was approved by the Financial Regulatory Authority (FRA). CI Capital acted as financial advisor, coordinator, lead manager, and bookrunner. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
