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Key Points
- Beltone’s revenue surged nearly fourfold to $143.2 million in 2024, driven by strong expansion and growth in its Non-Banking Financial Institutions (NBFIs).
- Net profit climbed to $33.8 million, with NBFIs revenue growing sixfold to $115 million, fueled by expanded financial products and increased lending.
- Beltone’s total assets surged from $363.8 million in 2023 to $671.3 million in 2024, reinforcing its position as a top financial player in MENA.
Egyptian business executive Dalia Khorshid led Beltone Holding to a record-breaking year in 2024, with the financial services group surpassing $140 million in revenue. The strong results reinforced its position as one of the fastest-growing financial institutions in the Middle East and North Africa (MENA) region.
The company’s growth was driven by a strategic expansion into high-potential markets and a strong performance across its business segments. Beltone’s consolidated revenue surged nearly fourfold to EGP7.2 billion ($143.2 million) in 2024, up from EGP1.87 billion ($37.2 million) in 2023. The impressive gains were fueled by the rapid expansion of its Non-Banking Financial Institutions (NBFIs) platform and the continued strength of its Investment Bank.
Beltone’s profit jumps on higher revenue
Higher revenues and improved efficiency helped push Beltone’s net profit to EGP1.7 billion ($33.8 million) in 2024, a sharp increase from EGP369 million ($7.4 million) the previous year. The NBFIs platform, in particular, played a key role in this success, growing its revenue nearly sixfold to EGP5.8 billion ($115 million). This was driven by an expanded range of financial products and increased lending activity. By the end of 2024, the platform’s outstanding portfolio had more than doubled year-on-year to EGP21.5 billion ($427.7 million).
Reflecting on the company's performance, Khorshid said: “Beltone’s record-breaking performance in 2024 reflects our strategic vision, data-driven approach, and operational efficiency. We remain committed to accelerating our digital transformation and strategic expansion into high-growth regional markets, solidifying Beltone’s position as a leading financial powerhouse.”
Beltone’s assets surge to $671 million
Founded in 2002, Beltone Holding is a leading financial services provider in the MENA region, with shares listed on the Egyptian Exchange. Its subsidiary, Beltone Leasing and Factoring, launched in 2022, has quickly risen to become one of Egypt’s top three financing companies.
Under Khorshid’s leadership, Beltone has broadened its offerings beyond brokerage and investment banking to include asset management and a wide range of non-banking financial services such as private equity, leasing, factoring, consumer finance, venture capital, mortgage finance, and microfinance.
The company’s strong financial performance also reflected in its balance sheet, with total assets rising from EGP18.29 billion ($363.8 million) at the end of 2023 to EGP33.75 billion ($671.3 million) by the end of 2024. Beltone also reversed a carried-forward loss of EGP527.6 million ($10.5 million) to report retained earnings of EGP1.031 billion ($20.5 million).
