InSide Fawry Earnings - Tech Enabled

Fawry for Banking Technology and Electronic Payment (FWRY) reported a 124.6% surge in profit after non-controlling interest, reaching EGP 1.606 billion for FY2024, compared to EGP 715 million a year earlier. The impressive results, announced on March 2, 2025, underscore the company's robust expansion in tech-enabled solutions.

Fawry's total throughput soared 72.9% year-over-year (y-o-y) to EGP 601.7 billion in FY2024, fueled by a significant rise in mobile payments and the growing adoption of its myFawry app. The company processed 1,930 million transactions, marking a 20% increase y-o-y.

Fawry's retail network expanded with 372.4 thousand POS terminals, up from 331.4 thousand a year earlier, bolstering its footprint across Egypt. Acceptance-enabled POS terminals reached 335.2 thousand, reflecting a 16.7% rise, as Fawry continued to empower merchants with versatile payment options. Notably, these terminals now support payments through both debit and credit cards.

The company's mobile wallet transactions hit 240 million, up 53.9% y-o-y, with the total processed value climbing 155.7% to EGP 486.3 billion.

Meanwhile, cumulative downloads of Fawry’s consumer-facing myFawry mobile application surged 42.5% y-o-y to 17.3 million by the end of FY2024, up from 12.2 million in FY2023. The integration of Prepaid Cards, BNPL services, and the Money Market Fund last year, coupled with the recent addition of Emergency and Medical Insurance, has accelerated myFawry’s transformation into a full-fledged neobank. myFawry’s annualized throughput reached EGP 26.8 billion in FY2024, a remarkable 237.9% increase y-o-y from the EGP 7.9 billion recorded in FY2023. This surge underscores the rapid adoption of digital payment methods among Egyptian consumers.

Earnings Release.

Download • 441KB

Disclaimer and Terms of Use

The data provided on any page at www.egvest.com aren't for any investment decision or taking any action of buy or sell of any asset or investments of any type; the information on this page has been obtained from sources that EGEVST believed to be reliable, we have not independently verified such information, and it may not be accurate or complete.

EGVEST.com published a delayed feed for the Egyptian stock exchange executed stocks and its leading indices through a previous contract with EGID "Egypt for Information Dissemination" the delayed feed is referred to below as "information."

The "information" displayed and published by EGVEST.com could lead to financial losses. It should be used on a personal and only personal responsibility. The "information" contains simplified mathematical calculations that clarify, simplify, and classify the "information" without using any financial valuation methods and don't represent any recommendation to buy, sell or hold financial asset