Egypt’s EFG-Hermes reports 26% growth in second-quarter revenues

Egyptian investment bank EFG-Hermes Holding reported a 26 percent year-on-year increase in revenues during the second quarter of this year, recording 1.3 billion Egyptian pounds ($81.6 million).

The hike in revenues came despite the coronavirus crisis that hit world economies and markets, notably developing and emerging economies.

The rising revenues were driven by the bank’s revenues that surged  40 percent to reach 1 billion pounds during the second quarter of the current year.