EFG Hermes

Hermes to MENA: Hike in foreign currency reserve supports Egyptian pound against US dollar

Wed, 08 Jul 2020 - 04:15 GMT

In exclusive statements to MENA, Head of Research at EFG Hermes Ahmed Shams El Din said this is considered the first hike in foreign currency reserves since the outbreak of COVID-19 in March.

Hermes, Wealth Fund seek purchasing Arab Investment Bank

Wed, 24 Jun 2020 - 12:35 GMT

Under the deal, Hermes will own not less than 51 percent of the bank's capital while the fund will own not less than 25 percent.

Premium International's 2nd securitization bond issuance of LE 172B closed

Wed, 15 Apr 2020 - 03:18 GMT

EFG Hermes clarified that this comes as part of Premium International two-year program to issue LE 2 billion ($162 million), in securitisation bonds.

EFG Hermes partners with Betabs to establish e-payment company

Mon, 13 Apr 2020 - 05:17 GMT

"Betabs Egypt" is scheduled to create a new technology platform of its kind to provide electronic and digital payment services.

EFG Hermes' consolidated profits jump 44% in 1st half of 2019

Thu, 08 Aug 2019 - 02:59 GMT

During the second quarter of 2019, the company's profits surged to LE 306.5 million, compared to LE 213.5 million during the same quarter of 2018.

Egypt Education Fund oversubscribed with commitments of $119M: Hermes

Sun, 23 Dec 2018 - 03:16 GMT

EFG Hermes announced Egypt Education Fund focused on Egypt’s K-12 sector was oversubscribed with total commitments of $119 million in its first close.

Egypt's EFG Hermes considers move into insurance, mortgage sectors: CEO

Mon, 26 Nov 2018 - 10:25 GMT

Hermes is also looking to enter a new market in Asia or Africa within a year, Karim Awad told Reuters in an interview.

EFG Hermes accomplish profits of LE 767.16B in 9 months

Thu, 15 Nov 2018 - 03:50 GMT

Hermes financial indicators showed that the company reached standalone profits of LE 190.89 million, compared to LE 178.12 million, with an increase of 7.2 percent.

CIRA’s IPO on EGX worth LE 1.2B: Hermes

Mon, 01 Oct 2018 - 03:24 GMT

EFG Hermes acted as Sole sole Global global Coordinator coordinator and Bookrunner bookrunner on the transaction .

EFG Hermes to enter Nigerian market via acquisition of Primera Africa

Thu, 19 Jul 2018 - 11:56 GMT

Hermes expected the acquisition to be completed by August 31, based on the regulatory approval and the satisfaction of certain conditions.

EFG Hermes acquires TMG’s schools for LE1B

Mon, 28 May 2018 - 12:31 GMT

GEMS Education will take over the exclusive operatorship and management of four new schools in the cities of Madinaty and Al Rehab in Egypt.

Hermes records net profit of LE 249M in Q1 2018

Mon, 14 May 2018 - 09:26 GMT

For the standalone profit, Hermes marked a decline to LE 33.75 million, compared to LE 207.15 million in Q1 of 2017.

EFG Hermes’ subsidiary receives license to offer factoring services

Wed, 28 Mar 2018 - 10:45 GMT

EFG Hermes has allocated an initial LE 250 million to operate the new venture.

EFG Hermes records profit of LE 1.23B in 2017

Tue, 27 Mar 2018 - 12:43 GMT

EFG Hermes’ revenues decreased 9 percent on a year-on-year basis to accomplish LE 3.6 billion, compared to LE 4 billion in the prior year.

T-bills’ sales are expected to reach $19M in 2018: EFG Hermes

Mon, 26 Mar 2018 - 01:39 GMT

The Egyptian government aims to attain between $15 billion and $20 billion in 2018 through those treasury bills, Head of EFG Hermes Ahmed Shams said.

BT100 honors EFG Hermes for performance in asset management

Tue, 20 Feb 2018 - 07:59 GMT

EFG Hermes holding was honored by “Business Today” magazine Monday night, February 29 during the 15th Annual BT100 Awards.

EFG Hermes inaugurates Bangladesh Office to serve global clients

Tue, 30 Jan 2018 - 08:45 GMT

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.

Business News Wrap-up

Wed, 17 Jan 2018 - 05:12 GMT

A wrap-up of the most prominent business news of the day

Business news warp-up

Mon, 25 Dec 2017 - 06:25 GMT

A wrap-up of the most prominent business news of the day.

EFG Hermes looks to manage renewable energy projects

Mon, 25 Dec 2017 - 11:15 GMT

The projects that the bank was targeting were worth at least $250 million in investments.