Egypt's EFG-Hermes see 9 months profits drop

Ahram Online, Monday 19 Nov 2012

Investment bank EFG-Hermes sees net income in first nine months of 2012 fall by 18.8 per cent compared to same period last year

Egyptian investment bank, EFG-Hermes, said it realised a net income of LE232 million in the first nine months of 2012, an 18.8 per cent drop below the same period last year.

On a quarterly basis, EFG realized a 7 per cent growth in net income, which reached LE83.8 million ($14 million) in the third quarter of 2012.

EFG-Hermes is the largest investment bank in the Arab world, with total assets of LE56.3 billion, 

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