ICFG Limited Reports Strong Annual Results for Subsidiary Invescore NBFI JSC
Why we think this is very good
The audited financial statements of ICFG's subsidiary, Invescore NBFI JSC, show exceptional performance with profit before tax increasing by 79.6% and profit for the year rising by 87.2%. The company also reported a 78.5% increase in net interest income. These results significantly exceed market expectations and demonstrate the strong underlying business operations of Invescore NBFI JSC.
Key Points
- Profit before tax increased by 79.6% to MNT 107.3 billion (approximately US$30.3 million)
- Profit for the year increased by 87.2% to MNT 83.4 billion (approximately US$23.6 million)
- Net interest income rose by 78.5% to MNT 141.0 billion (US$39.9 million)
Summary
ICFG Limited has published the audited financial statements of its 80.81% owned Mongolian subsidiary, Invescore NBFI JSC, for the twelve-month period ended 31 December 2024. The results show a significant improvement in the subsidiary's financial performance, with profit before tax increasing by 79.6% to MNT 107.3 billion (approximately US$30.3 million) and profit for the year rising by 87.2% to MNT 83.4 billion (approximately US$23.6 million). Net interest income also grew by 78.5% to MNT 141.0 billion (US$39.9 million).