EFG-Hermes records Q4 net loss of LE21 mn

Reuters, Wednesday 3 Apr 2013

Egypt's biggest investment bank recorded a net loss in the fourth quarter of 2012, profits were down around 32% on the corresponding quarter in 2011

EFG-Hermes reported a LE21 million ($3.08 million) net loss in the fourth quarter, Egypt's biggest investment bank said in a statement on the stock exchange on Wednesday.

The bank made a LE31 million ($4.5 million) net profit in the same quarter a year earlier.

It posted a net profit of LE211.14 million (roughly $31 million) for 2012, down from LE295.11 million (roughly $43.3 million) in 2011.

Short link:

 

Also In Economy

# Egypt joins Fund for Export Development in Africa
# Infograph: Egypt remittances in July hit highest point in 5 months at $3 bln
# Egypt rights in Sukari Gold Mine unaffected by AngloGold Ashanti's acquisition of Centamin: Ministry
# EGX indexes rise at end of Wednesday trading
# Egypt launches 1st phase of new tax facilities measures
# Infograph: Trade ties between Egypt and Germany
# Egypt gov’t forms ministerial cluster to boost entrepreneurship landscape
# Petrojet, Russian Atomstroyexport ink coast protection deal for El-Dabaa nuclear plant
#