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I-Score targets EGP 43.5m profits this year - Daily News Egypt

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I-Score targets EGP 43.5m profits this year

The Egyptian Credit Bureau, I-Score, targets net profits of EGP 43.5m during this year, and a total operating revenue of EGP 118m, according to Mohamed Refaat, Managing Director and Board Member.


The Egyptian Credit Bureau, I-Score, targets net profits of EGP 43.5m during this year Photo handout to DNE
The Egyptian Credit Bureau, I-Score, targets net profits of EGP 43.5m during this year
Photo handout to DNE

The Egyptian Credit Bureau, I-Score, targets net profits of EGP 43.5m during this year, and a total operating revenue of EGP 118m, according to Mohamed Refaat, Managing Director and Board Member.

Refaat explained that the company’s net profit amounted to around EGP 41m in 2014, in spite of  the unchanged prices of the services for the fifth consecutive year, such as credit reports and credit scoring.

He added that the reasons behind the expected increase in profits and revenues is the expectations of increases in banks’ credit activities this year, and the increase of the achieved revenues from the value-added products, which will positively reflect on the results of the company’s business.

The company’s General Assembly approved the board’s suggestion to distribute a cash coupon to shareholders for the fiscal year ending in December 2014, with 62.5% out of the paid capital.

According to Refaat, the volume of cash distributions that were given to shareholders amounted to approximately EGP 70.875m, which is 157.5% of the paid capital, since the establishment of the company until the end of 2014.

Refaat added that the company’s plan this year targets benefiting more from previously-built infrastructure, and expanding in marketing the products with added-value offered to the customers. The plan also targets focusing on developing the products to meet the customers’ needs.

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