EFG Hermes unit arranges syndicated loan worth 250 mln Egyptian pounds

Cairo-based investment bank EFG Hermes said Saturday its unit has completed arranging a syndicated loan worth 250 million Egyptian pounds ($13.8 million) during the first quarter of 2017.

EFG Hermes Leasing, a wholly-owned subsidiary of Cairo-based investment bank EFG Hermes, has arranged the loan in cooperation with a local leasing company, EFG added.

EFG Hermes Leasing was ranked seventh leasing in terms of the country’s market share, recording a 6.8 percent at the end of March, according to the Egyptian Financial Supervisory Authority’s latest report.