EFG Hermes reports LE381 m net profit in first-half of 2014

Egyptian investment bank EFG-Hermes reported on Thursday a 109.7 percent increase in the first-half of 2014 standalone net profit to LE381.6 million from LE69 million in the same period a year earlier.
"The management’s continuing focus on growing operations in the Gulf Cooperation Council (GCC) countries is beginning to bear fruit, with 45 percent of the Investment Bank’s fee and commission revenues (excluding capital markets and treasury operations) coming from regional operations," the firm said.
EFG Hermes operates in eight countries and extends its services to the rest of the region through its local offices and a highly talented workforce of over 800 employees.

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