Sarwa Capital Holding’s (SRWA) extraordinary general meeting approved changing the company’s name to Contact Financial Holding from Sarwa Capital Holding, according to the company’s February 16th statement to the Egyptian Exchange.

The company is seeking a better reflection regarding the composition of the business and its leading position within the consumer financial services landscape.

In January, the company’s board of directors approved changing the name.

The company posted a 9% Year on Year fall in its consolidated net profit in 2020, recording EGP 352.67 million in 2020, compared to EGP 388.71 million in 2019.

Sarwa Capital offers financial solutions such as auto credit, insurance, and consumer finance. The group also helps and structures debt transactions for companies that need to access debt capital markets to fund growth, manage risk, improve financial standing, and raise liquidity.