MNT-Halan's First Results as a Listed Company Show Profit Doubling on the Quarter but Falling Year on Year

MNT Tech Holding for Financial Investments, the listed Egyptian arm of fintech MNT-Halan, more than doubled its net profit in the third quarter of 2026 but stayed well below the same quarter a year earlier. In its first results since its October Egyptian Exchange listing, the company reported net profit of EGP 836 million, against EGP 399 million in the second quarter, according to EnterpriseAM and Business Tech News.

The interim financial statements for the nine months to 30 September, published through the EGX disclosure system, match those figures. Third-quarter net profit was EGP 836.2 million, against a restated EGP 1.213 billion a year earlier, a 31% fall. Nine-month profit was EGP 1.746 billion, down 11%.

Where the profit came from

Much of the sequential jump came from selling loans. According to EnterpriseAM, offloading income rose 17% quarter on quarter to EGP 2.3 billion, and the company sold EGP 6.8 billion of receivables at a 34.3% margin. Interest expense fell 26%. EnterpriseAM also reports a one-off EGP 279 million gain from waiving an intercompany loan at a subsidiary outside Egypt. StartupNews Africa has not yet located that figure in the financial statements.

The year-on-year picture is weaker. EnterpriseAM reports that quarterly interest income fell 40% and credit costs rose 88%. The release says the company now sells the shorter-term portion of each loan and keeps only the final part, which reduces interest income on its books. On-book yield was 30.3% for the first nine months of 2026, against 47.7% for 2025 as a whole.

Loan book and new services

According to EnterpriseAM, the gross loan book reached EGP 48.1 billion, up 14% year on year. Consumer finance rose to 29% of the book from 23%. Higher-risk lending fell to 15% of quarterly disbursements from 25% a year earlier. During the quarter the company launched digital securities brokerage, backed by a custody licence from Egypt’s Financial Regulatory Authority, and a small-ticket factoring service.

What the IPO did and did not raise

The October offering was a secondary sale. The parent, MNT Investments B.V., sold 320 million existing shares, and the EGP 7.84 billion offer value went to the seller rather than the company.

Fresh capital came from a separate step. Board minutes dated 26 October, as reported by EnterpriseAM, approved a closed subscription by the parent for 163.3 million new shares at EGP 24.50, about EGP 4 billion. EnterpriseAM reported the subscription as fully paid up on 27 October, and issued capital rises from EGP 160 million to EGP 176.3 million. The 30 September balance sheet predates that increase and still shows EGP 160 million. Reports describe the regulatory filings as pending.

Founder and CEO Mounir Nakhla said in the release: “This places us in an exceptionally strong financial position within our sector, providing the capital and flexibility to accelerate our next phase of growth.”

Revenue figures

Press reports cite third-quarter revenue of EGP 5.4 billion and nine-month revenue of EGP 15.4 billion. The total revenue line in the interim statements shows EGP 5.35 billion for the quarter and EGP 15.08 billion for nine months. StartupNews Africa has not reconciled that difference.