Banque du Caire has Signed Agreement with Beltone Asset Management, a Beltone Financial subsidiary, to manage an external investment portfolio.
This collaboration seeks to diversify the bank’s investment portfolio, improve its financial market position, and maximize investment returns, ensuring future success and growth.
Banque du Caire’s Head of the Investment Sector, Abdelhamid Mortaja, said the relationship with Beltone Asset Management supports the bank’s commitment to work with industry experts and use Beltone’s asset and securities management expertise.
Beltone, a major financial services company, will create and manage domestic and international portfolios for the bank, diversifying its investment portfolio. The stock market’s robust performance throughout this period should create new and varied investment returns for the bank.
Mortaja said this is consistent with the renewal of Banque du Caire’s Second Investment Fund in EGP, which offers a cumulative daily return for the fifteenth year. Since July 2009, the fund has grown rapidly, nearly doubling to EGP 5bn in 2023.
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The fund earned a phenomenal compounded annual return of 22% in the first half of 2024, benefiting Banque du Caire’s clients for years and attracting over 10,000 customers. Beltone Asset Management and the bank are closer after this success.
Khalil El Bawab, Head of Markets at Beltone Financial, expressed his pleasure in expanding the long-standing relationship and partnership with Banque du Caire to include the management and creation of an investment portfolio for the bank, in addition to renewing the fund management contract that has spanned 15 years. He stated: “We are delighted to continue our collaboration with Banque du Caire, one of the oldest financial institutions operating in Egypt and Africa.”
Shafik concluded that their strategic partnership will thrive. She said Banque du Caire’s return to the financial market is good for the Egyptian Exchange and financial markets.
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About Banque du Caire
Banque du Caire, one of Egypt’s oldest and largest banks, offers a wide range of products and services to retail and corporate customers. The bank leverages its wide distribution network in Egypt to offer a full array of specialized retail and corporate banking products and services.
About Beltone
Beltone Holding is a renowned MENA financial services provider with decades of experience. The Company provides brokerage, investment banking, asset management, equity research, private equity, and end-to-end non-banking financial institutions (NBFIs) like leasing, factoring, consumer finance, venture capital, mortgage finance, microfinance, and small to medium enterprises through its growing suite of financial solutions.
