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GB Corp, a leading automotive player in the Middle East and Africa (GB Auto) and a prominent non-banking financial services provider in Egypt (GB Capital), announced that its Extraordinary General Assembly has approved an amendment to Article (3) of the company’s bylaws. The amendment entails removing the "financial leasing" activity from the holding company's official purposes, as the company neither practices this activity directly nor holds a license for it.

EGX Disclosure and Operational Clarification

In an official disclosure to the Egyptian Exchange (EGX), GB Corp emphasized that this administrative adjustment is strictly limited to the holding company's bylaws. It does not entail any changes to the activities of its subsidiaries operating within the non-banking financial services sector, nor does it alter the overall corporate structure of the group.

The company strongly clarified that the decision will not impact its subsidiary, GB Lease and Factoring, in any capacity. The subsidiary will continue its normal business operations and retains all the necessary regulatory licenses required to conduct its financial activities.

Q1 2026 Financial Performance

On the financial front, GB Corp reported a 46.8% year-on-year decline in its consolidated net profits for the first quarter of 2026. The company’s net profits contracted to EGP 320.44 million during Q1 2026, compared to EGP 602.75 million recorded in the same period of 2025.