EFG Hermes- Reuters
CAIRO – 30 January 2018: EFG Hermes announced the inauguration of a rep office in Dhaka, the capital city of Bangladesh, to serve its network of global institutional clients, according to a press release on Tuesday.
The release referred that EFG Hermes's new office provides the corporate with a client servicing edge that rose 23.93 percent in the past year.
“Adding Bangladesh to the platform is a continuation of the group’s strategy to increase its geographic footprint,” EFG Hermes Holding Group Chief Executive Officer Karim Awad said.
Awad added that EFG Hermes is exploring opportunities in both Sub-Saharan Africa and Southeast Asia with a view to entering one more market this year.
Bangladesh’s economy grew north of 7 percent last year, making it the seventh consecutive year that the nation of more than 160 million people has grown at a rate of 6 percent or more, according to the release.
“The economy is projected to continue growing at a 6-7 percent rate going forward, driven by a vibrant, export-focused textiles sector; a fast-growing pharmaceutical industry that is both one of the lowest-cost producers in the world and increasingly export-oriented; rising remittances from Bangladeshi expats; a large domestic consumer market with a rapidly forming middle class; and a steadily improving rate of financial inclusion,” the London-based Chief Executive Officer of EFG Hermes Frontier Ali Khalpey said.
EFG Hermes started in Egypt and grew over 30 years of success to become a leading financial services corporation with access to emerging and frontier markets, providing financial services that include investment banking, asset management, securities brokerage, research and private equity to the entire region.