Bassma Bakry

CANA 1Q22 net profit pre-appropriations recorded EGP96 million (-17% y/y, -58% q/q), which is 16% lower than our estimates for 1Q22. The bottom line plummeted on an annual basis mainly on the back of 1) high base effect as the non-interest income dec...

FAIT 1Q22 net profit stood at EGP1,311 million (+116% y/y, +11% q/q), while attributable net profit recorded EGP1,290 million (+123% y/y, +8% q/q). This significant growth came in despite a 49% y/y increase in OPEX driven by admin expenses and a 91% ...

EGBE 1Q22 standalone net profit pre appropriations recorded EGP197 million (+24% y/y, +5% q/q), which is 4% higher than our bottom-line estimate of EGP191 million. The balance sheet implied that the lending growth started to pick up sequentially and ...

We Initiate coverage on BINV with an overweight recommendation, based on an equity value of EGP2,827 million and a fair value of EGP17.67/share, offering an upside of 105%. Lastly, the company currently has an exercisable put option to sell its remai...

SAUD 1Q22 net profit recorded EGP369 million (+37% y/y, +3797% q/q), 26% higher than our estimates for 1Q22. On a sequential basis, efficiency improved over 1Q22, since operating income expanded by 15% q/q, coupled with a decrease in OPEX of 30% q/q,...

ATLC 1Q22 net income recorded EGP26 million (+57% q/q, -64% y/y). This implies healthy growth of the leasing portfolio. Despite the reversals, the bottom-line still witnessed a decline of 64% in 1Q22 on an annual basis, since 1Q21 bottom-line include...