Beltone Holding reports record net profit and robust growth

Cairo: Beltone Holding (BTFH.CA) has announced its consolidated financial and operational results for the nine months ending 30 September 2024.

The company’s growth strategy continues to deliver exceptional outcomes, with consolidated operating revenue surging 405% year-on-year to reach EGP4.8 billion. Beltone also reported a net profit exceeding EGP1.13 billion in 9M2024, a significant jump from EGP86 million in 9M2023.

Dalia Khorshid, Group CEO and Managing Director of Beltone Holding, stated: “Achieving record net profit and crossing the EGP1 billion mark for the first time is a testament to the group’s ability to execute its transformation strategy, generate growth, and deliver sustainable profitability. This outstanding financial and operational performance across all business lines reflects the group’s swift, data-driven business model, its comprehensive product offerings, and its extraordinary talent.”

Beltone's Non-Banking Financial Institutions (NBFIs) platform demonstrated exceptional growth across all subsidiaries, with operating revenue climbing 757% year-on-year to EGP3.9 billion in 9M2024. The platform’s outstanding portfolio surpassed EGP18.7 billion, driven by increased business activity and an expanded product suite, including leasing, factoring, consumer, micro, mortgage, and SME financing.

Beltone Venture Capital executed six equity and follow-up investments during the period, expanding its managed portfolio to over EGP1.5 billion. Meanwhile, Beltone Capital reported operating revenues of EGP213.4 million in 9M2024.

The investment banking platform also maintained its robust performance, with operating revenue growing 282% year-on-year to reach EGP852 million, supported by the expansion of brokerage operations, alternative advisory services, and higher asset management performance fees. The investment bank’s outstanding portfolio rose 465% year-on-year, reaching EGP3.5 billion.