Orascom Financial Holding records profits of LE 36.66M

CAIRO – 31 August 2021: Orascom Financial Holding S.A.E. (OFH) recorded consolidated profits of LE 36.66 million during the financial period from the company's establishment to June 30, 2021.

The company stated in a statement to the Egyptian Stock Exchange (EGX), that it achieved revenues of LE 161.27 million during the period from the beginning of its establishment to June 30, 2021.

The company achieved LE 17.27 million in profits during the three months ending in June 2021, while it achieved LE 40.49 million in revenues.

Orascom Financial Holding Company was established as a result of the demerger of Orascom Investment Holding Company.

As for standalone results, the company achieved profits of LE 55.17 million during the financial period at the end of June 2021.

Orascom Financial Holding announced during the financial period from December 10, 2020 to March 31, 2021, that it achieved profits of LE 19.38 million.

It achieved revenues of LE 138.53 million during the period from the beginning of the establishment on December 10, 2020 to March 31, 2021.

As for standalone results, the company achieved profits of LE 27.35 million during the financial period at the end of March 2021.

In February, OFH announced that the Orascom Investment Holding (OIH) horizontal demerger has been successfully concluded and its financial services investments have been transferred to OFH.

OFH, which is a technology-driven financial services investment company, has a portfolio of a minority stake in Sarwa Capital, Egypt’s leading consumer and structured financial services provider, and a majority stake in Beltone Financial Holding, a regional investment bank and financial services institution.