ICEC

EFG Hermes 2015 net profit hits 649mn Egyptian pounds

Egypt’s EFG-Hermes, the leading investment bank in the Middle East, posted net profit worth 649 million Egyptian pounds ($73.09 million) versus 707 million pounds in 2014, it said Wednesday.

Net profit after tax and minority rights has hit 461 million pounds from 538 million pounds a year earlier.

Revenues recorded 2.595 million pounds in 2015 compared with 2.612 million a year earlier.

Moreover, the group’s fourth-quarter net profit dropped to 80 million pounds versus 131 million pounds in the same period a year earlier.

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