Policymakers and investors are buzzing with excitement as Contact Financial Holding, a leading player in Egypt’s financial sector, announces phenomenal growth in its first-quarter results for 2025. According to the latest financial statements reported by Africazine, the company achieved a remarkable consolidated net income of EGP 59 million, reflecting a staggering 306% increase compared to EGP 14 million in the same period last year. This skyrocketing growth underscores a surge in confidence in Egypt’s financial market and its resilience amid shifting economic conditions.
Notably, Contact Financial’s revenue from insurance services witnessed an impressive 73% year-on-year increase, generating EGP 619 million as of March 31, 2025, compared to EGP 357 million the previous year. This highlights the solid demand for insurance products and a growing awareness of their benefits among Egyptian consumers.
The overall operating income also rose impressively by 30% to EGP 475 million, compared to EGP 365 million during the January-March quarter of 2024. Furthermore, the company’s gross written premiums soared by 54% year-on-year, reaching EGP 1.07 billion, up from EGP 696 million. This strong performance showcases Contact Financial’s capacity to navigate the complexities of the market while maintaining robust growth metrics.
On a standalone basis, Contact Financial reported non-consolidated net losses that widened to EGP 12.17 million, compared to EGP 3.85 million in Q1 2024. Despite this, company management remains optimistic about the future. “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,” said a representative from the company.
The finance sector is also adopting innovative solutions, as seen with Contact’s recent partnership with Fawry. This collaboration aims to enhance the availability of a buy-now-pay-later (BNPL) service across Fawry’s extensive payment network, aligning with Egypt’s vision to accelerate digital transformation and expand financial inclusion. Such initiatives underscore the dynamic shifts within the Egyptian economy towards more accessible financial solutions.
For those closely following #BusinessNews in the region, these developments at Contact Financial are a clear indication of the ongoing positive changes within Egypt’s financial landscape. As companies adapt to new economic realities, they are not only driving growth but also embracing technology to pave the way for a more inclusive and sustainable future.
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