Citadel reports EGP30bn in 2013 assets

May 20, 2014 2:08 am

Egyptian investment firm, Citadel Capital has said its assets on its 2013 balance sheets grew to EGP30bn, compared with EGP5.8bn in the previous year, Daily News Egypt has reported. The rise comes as part of the company’s ongoing transformation from a hybrid private equity firm to an investment company, Citadel said. “On the income statement front, the firm’s statutory consolidated net loss narrowed 54.4% year-on-year in Q4 2013 to EGP128.5m, while on a full-year basis the firm’s net loss was nearly halved, falling to EGP384.9m,” the firm said.