EFG-Hermes Posts EGP 21 Mln Net Loss For Q4

Egypt’s biggest investment bank EFG-Hermes Holding (HRHO.CA) has logged EGP 21 million ($3.08 million) net loss in the fourth quarter, versus EGP 31 million net profit in year-ago period, a filing sent to the Egyptian Exchange on Wednesday showed.

The investment bank reported EGP 211.137 million consolidated net profit for FY/2012, with a decline of 28.5% y/y f compared to the fiscal year of 2011 of EGP 295.111 million.

EFG-Hermes also announced its standalone net profit of EGP 583.489 million during FY/2012, compared to a net profit of EGP 89.451 million for the FY/2011.