The Group reports a 302% Y-o-Y increase in net operating profit in 4Q, with both the Investment Bank and the Commercial Bank being profitable. The firm reports a normalized net profit of EGP 96 million in the final quarter of 2013.
EFG Hermes Securities Brokerage clients across the region can now track and trade stocks in multiple markets across the region on their iPhone, iPad and Android devices in real time at any location.
More than 400 investors from top global institutions will meet face-to-face at the 10th Annual EFG Hermes One-on-One with senior managers from 96 leadingMENA-listed companies to learn first-hand how the region may offer a ‘port in the storm’ amid ongoing worries about other emerging markets
Exit generates some USD 65 mn in value for private equity funds managed by EFG Hermes; An IRR of c.40% underscores EFG Hermes’ ability to create value for limited partners by actively helping turnaround businesses
First Phase of Program amounts to EGP425 million to be executed within the next four weeks with second phase taking place in late second to third quarter 2014
EFG Hermes, the leading investment bank in the Arab world, announced today that distinguished finance industry veteran, Khalid Ellaicy has been appointed as the firm’s new CFO. Ellaicy joins the firm with decades of invaluable experience with global and regional multinationals.
Cairo, Egypt — EFG Hermes, the leading investment bank in the Arab world, announced today that the firm’s Board of Directors convened on 16 December and appointed Karim Awad as Group Co-CEO of EFG Hermes Holding with immediate effect.
Cairo, Egypt — EFG Hermes leading investment bank in the Arab world, announced today that InfraMed has made a c. USD 40 million investment in Jordan’s first utility-scale wind farm. The transaction gives InfraMed a 50% stake in the Jordan Wind Project Company (JWPC), which is building the 117 MW Tafila Wind Farm. The USD 290 million Tafila project will increase Jordan’s total power generation capacity by 3%, producing 400 GWh of electricity annually.
A Catalyst for Implementation of the Economic Investment Plan We believe that Dubai’s Expo 2020 win will lead to an acceleration in the implementation of the investment plan. This is linked to the wider plans to increase capacity in the core sectors of the economy, and beyond the Expo site and associated infrastructure. We estimate that the successful bid could add 0.5-1.0 percentage points (pp) to UAE’s real GDP growth in the next few years, accelerating closer to the event, as construction activity picks up and with the event itself. We currently estimate (ie, without factoring in the Expo win) real non-GDP growth of 4.5-5.0% for the next two years.
A sixth straight number-one ranking in this year’s Euromoney Research Survey underscores the resilience and ingenuity of the top-notch research team at EFG Hermes; sustained commitment to providing clients with the insight they require to navigate the changing markets of the MENA region has placed the firm well ahead of its global and regional competitors.
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