ICEC

Pharos to expand in GCC through Dubai office during H2

Pharos Holding for Financial Investments has revealed its plans to Expand its activities in the Gulf region through its office in Dubai during the second half of 2018, according to Managing Director, Noha El Ghazaly.

she added that this expansion comes as a part of the company’s strategy based on three main axis to support activities of the investments banks and exploit the positive outlook for investors and financial institutions, beginning by  maximize the volume of transactions executed through the diversification of the sectors targeted and effective promotion of opportunities, expansion of the activity of initial proposals.

The company will carry out the expansion through its office in Dubai, Pharos Gulf Limited that was established in 2017.

Pharos is considering expansion in the UAE through implementing transactions in the country as an Egyptian bank in Dubai, this step is guaranteed by achieving operating profits.

Pharos’ volume of transactions amounts to EGP 12 billion ($681 million) in several sectors, including food, pharmaceutical, and manufacturing industries.

Pharos now manages about EGP 4 billion assets, mostly are financial portfolios to institutional investors in fixed income instruments.

Pharos Holding, one of the leading financial institutions in Egypt, was established in 2005, and offer its clients with investment banking, asset management, securities brokerage, and bookkeeping services.

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