May 2023, eFinance Group, has announced its largest-ever quarterly net profit of EGP 282 million during the first quarter of 2023. This remarkable achievement underscores the Group’s commitment to delivering exceptional financial results and highlights its continued growth in the market.
The Group’s total revenues experienced a significant surge, growing at an annual rate of 37% during the first quarter of this year, reaching a remarkable EGP 768 million. This substantial increase can be attributed to the outstanding performance of some of its subsidiaries within the e-Finance Group: eFinance, eAswaaq, and Khales.
eAswaaq experienced the highest growth within the group of 420.4% during the first quarter of 2023, with net profits soaring to EGP 58.5 million. The remarkable success of eAswaaq underscores its effectiveness in leveraging cutting-edge technologies and providing innovative solutions in the e-commerce marketplace.
Commenting on eAswaaq’s milestone achievement, Islam Mamoun, CEO and managing director, stated, “We are thrilled to announce this exponential growth of 420% during the first quarter, these exceptional financial results reflect the hard work and dedication of our team as well as the resilience of our business strategy. We remain committed to delivering innovative technology solutions that meet the evolving needs of our customers and partners.”