The company’s total revenue saw a strong increase of 50% compared to the first quarter of 2022, recording MAD 15.7 billion during the first quarter of 2023, continuing to achieve significant growth rates supported by the strong performance of key sectors such as asset management, healthcare, real estate, construction, maritime services, dredging and financial services, food, utilities and services.
“In the second quarter, we are focusing on developing new businesses and continuing to improve our business operations by adopting more technology systems and incorporating artificial intelligence solutions in various business areas,” said Sayed Basr Shuaib. , CEO of International Holding Company.
He added that Alpha Abu Dhabi, a subsidiary of the International Holding Company, has increased its stake in Aldar Properties since the second quarter of 2022, which has been a major contributor to the growth in property returns, while that the acquisition of the “National Health Insurance Company – Daman” in October 2022 will bring a remarkable boost to financial services.
He said: “With the start of 2023, the global economy showed positive indicators, with inflation rates and energy prices falling from record levels. The results of the International Holding Company in the first quarter confirmed its ability to fully deliver on its promises and reflect the extent of the strength of our business in the face of global market conditions, despite the slowdown in certain markets…
The financial strength of the International Holding Company is demonstrated by its stable balance sheet, since the total assets of the company amounted to 217.4 billion dirhams, as of March 31, 2023.
While total loans increased by 6.5% after registering 42.5 billion dirhams, this was mainly due to the company’s strategic investments in new businesses and the growth of existing businesses. This approach has allowed the company to expand its activities and consolidate its position in key markets.
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