Beltone Holding raises $205 million in new capital

CAIRO, April 14 (Reuters) - Cairo-based financial services provider Beltone Holding BTFH.CA has raised its capital by 10.5 billion Egyptian pounds ($205 million), it said in a statement on Monday.

The capital increase "supports our growth plan across all of the company's platforms, with a focus on strategic expansion, artificial intelligence and digital transformation," the statement quoted chief executive Dalia Khorshid as saying.

Foreign investors made up the vast majority of the subscriptions, it added.

Beltone's consolidated net profit grew by 4% to 1.7 billion pounds in 2024 on operating revenue of 7.2 billion pounds, the statement said.

($1 = 51.1400 Egyptian pounds)