Cairo – Mubasher: The consolidated financial statements of the Egyptian Financial Group Hermes Holding (EFG Hermes) showed a 33.3% year-on-year (YoY) rise in its net profits in 2019.
The investment bank’s net profits grew to EGP 1.4 billion last year from EGP 1.05 billion in 2018, including minority shareholders’ rights, according to a bourse statement on Wednesday.
Meanwhile, revenues surged to EGP 6.739 billion in 2019, compared to EGP 4.88 billion in the previous year.
As for standalone business, EFG Hermes reported net profits of EGP 616.6 million last year, up from EGP 585.7 million in the prior year.
It is noteworthy that during the first nine months of 2019, the Egyptian firm’s net profits surged to EGP 1.04 billion from EGP 751.4 million in the year-ago period, including minority shareholders’ rights.
