{"id":51144,"date":"2024-08-19T09:06:49","date_gmt":"2024-08-19T06:06:49","guid":{"rendered":"https:\/\/saudishopper.com.sa\/en\/?p=51144"},"modified":"2026-03-28T06:22:09","modified_gmt":"2026-03-28T03:22:09","slug":"beltone-holding-sustains-its-impressive-growth-in-1h2024-operating-revenue-jump-to-818-yoy-net-profit-records-egp-817-million","status":"publish","type":"post","link":"https:\/\/saudishopper.com.sa\/en\/beltone-holding-sustains-its-impressive-growth-in-1h2024-operating-revenue-jump-to-818-yoy-net-profit-records-egp-817-million\/","title":{"rendered":"Beltone Holding Sustains its Impressive Growth in 1H2024, Operating Revenue Jump to 818% YoY, Net Profit Records EGP 817 Million"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Cairo, 19 August 2024:&nbsp;<\/strong>Beltone Holding, one of the fastest-growing financial institutions, announced its consolidated financial and operational results for the six months ending 30, June 2024.&nbsp;<strong><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Beltone\u2019s successful execution of its turnaround and growth strategy led to a significant surge in consolidated top-line performance, with operating revenue of EGP2.9 billion, recording a significant increase of 818% year-on-year. Revenue growth was driven by strong performances on both the Investment Bank and Non-Banking Financial Institutions (NBFIs) fronts. Recorded net Profit after Tax and Minority Interest recorded EGP817 million during the period compared to a loss of EGP146 million during the first half of 2023. These unprecedented results were driven by the strong performances of both the Investment Bank and Non-Banking Financial Institutions (NBFIs), which expanded the net operating profit margin to 64%.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">During the second quarter of 2024, Beltone Holding recorded operating revenue of EGP1.6 billion, reflecting an 822% year-on-year increase. Net operating profit reached EGP1 billion, with the operating profit margin reaching 62%.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><a href=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2024\/08\/Dalia-Khorshid-CEO-of-Beltone_ssict_853_815.webp\"><img loading=\"lazy\" decoding=\"async\" width=\"853\" height=\"815\" src=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2024\/08\/Dalia-Khorshid-CEO-of-Beltone_ssict_853_815.webp\" alt=\"Dalia Khorshid - CEO of Beltone_ssict_853_815\" class=\"wp-image-51145\" srcset=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2024\/08\/Dalia-Khorshid-CEO-of-Beltone_ssict_853_815.webp 853w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2024\/08\/Dalia-Khorshid-CEO-of-Beltone_ssict_853_815-300x287.webp 300w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2024\/08\/Dalia-Khorshid-CEO-of-Beltone_ssict_853_815-768x734.webp 768w\" sizes=\"(max-width: 853px) 100vw, 853px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThis growth reflects not only our financial success but also the strategic initiatives we\u2019ve undertaken, such as expanding into high-impact areas like mortgage and venture capital. The transformation we\u2019ve led goes beyond the numbers; it\u2019s about reinforcing our position as a market leader and establishing a new benchmark in the financial services sector,\u201d said&nbsp;<strong>Dalia Khorshid, CEO of Beltone.&nbsp;<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cIn the first half of the year, Beltone Holding has taken remarkable strides in expanding our operational footprint. The Financial Regulatory Authority&#8217;s recent approval of our SME finance license is a testament to our deep commitment to empowering small and medium enterprises, which are the backbone of our economy. Our partnership with CI Venture Capital to manage a USD30 million fund is another chapter in our journey to support the most promising startups across diverse sectors.&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Meanwhile, Beltone Mortgage\u2019s rapid ascent to a leading market position, securing over 22% of the market share, addresses the growing local demand for real estate finance as Egypt\u2019s fastest mortgage provider. Additionally, the launch of our USD100 million private credit platform through Beltone Investment Holding is a strategic move to bolster Egyptian exporters, ensuring they have the financial resources needed to thrive in a competitive global market. Together, these initiatives tell a story of a company that is not only growing but is deeply invested in the economic fabric of our country,\u201d added&nbsp;<strong>Dalia Khorshid<\/strong>.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><a href=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2024\/08\/Beltone-1H2024-Results_ssict_1200_669.webp\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"571\" src=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2024\/08\/Beltone-1H2024-Results_ssict_1200_669-1024x571.webp\" alt=\"Beltone 1H2024 Results_ssict_1200_669\" class=\"wp-image-51147\" srcset=\"https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2024\/08\/Beltone-1H2024-Results_ssict_1200_669-1024x571.webp 1024w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2024\/08\/Beltone-1H2024-Results_ssict_1200_669-300x167.webp 300w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2024\/08\/Beltone-1H2024-Results_ssict_1200_669-768x428.webp 768w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2024\/08\/Beltone-1H2024-Results_ssict_1200_669-1080x602.webp 1080w, https:\/\/saudishopper.com.sa\/en\/wp-content\/uploads\/2024\/08\/Beltone-1H2024-Results_ssict_1200_669.webp 1200w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Investment Bank continued its strong performance, achieving operating revenue of EGP471 million during 1H2024, marking a 327% year-on-year growth. This accounted for 16% of the company\u2019s consolidated revenue. This exceptional performance was primarily driven by a significant expansion in brokerage operations, leading to higher commissions due to an increase in the margin lending portfolio.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the asset management sector, Beltone maintained its position as Egypt\u2019s largest non-bank affiliated asset manager, with assets under management (AUMs) reaching EGP27.7 billion in 1H2024, up from EGP21.5 billion in the same period in 2023. Similarly, the investment banking division\u2019s revenue more than tripled year-on-year, driven by an expanded offering in equity, debt, and advisory services.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Beltone\u2019s NBFIs platform witnessed an unprecedented surge in operating revenue, reaching EGP2.4 billion during 1H2024, marking a 13-fold year-on-year increase. This growth was attributed to significant expansions within its offerings, leading to substantial disbursements across its various subsidiaries. The platforms\u2019 portfolio grew sevenfold year-on-year to reach EGP15.2 billion during 1H2024.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The main contributors to portfolio growth within the NBFIs platforms were the leasing and factoring and consumer finance business lines, which grew by 6-fold and 5-fold year-on-year, respectively. Additionally, the expanded offerings within the NBFIs platform significantly contributed to its success, with the mortgage finance business line achieving a portfolio of EGP3.3 billion and capturing a market share of 22.3% during 1H2024.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In the venture capital domain, Beltone Venture Capital executed three new equity investments in BirdNest, Sylndr, and Trella, alongside two follow-up rounds for Way-Up Sports and Ariika, all completed in 1H2024. On the debt side, the company successfully closed a venture debt transaction with Sylnder. Venture debt outstanding portfolio stood at EGP109 million as at the end of 1H2024.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cairo, 19 August 2024:&nbsp;Beltone Holding, one of the fastest-growing financial institutions, announced its consolidated financial and operational results for the six months ending 30, June 2024.&nbsp; Beltone\u2019s successful execution of its turnaround and growth strategy led to a significant surge in consolidated top-line performance, with operating revenue of EGP2.9 billion, recording a significant increase of [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":51146,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_yoast_wpseo_meta-robots-noindex":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_pr_autopilot_social_copy":"","_yoast_wpseo_opengraph_title":"","_yoast_wpseo_opengraph_description":"","_yoast_wpseo_opengraph_image":"","_yoast_wpseo_opengraph_image_id":0,"_yoast_wpseo_twitter_title":"","_yoast_wpseo_twitter_description":"","_yoast_wpseo_twitter_image":"","_yoast_wpseo_twitter_image_id":0,"_yoast_wpseo_primary_category":24,"_extra_hide_author_box":"","_extra_featured_post":"","_partner_post_id":0,"footnotes":""},"categories":[24],"tags":[],"class_list":["post-51144","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy","et-has-post-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Beltone Holding growth - 1H2024 revenue up 818% | Saudi Shopper<\/title>\n<meta name=\"description\" content=\"Beltone Holding growth: 1H2024 operating revenue jumps 818% YoY, with net profit reaching EGP 817 million. 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