Cairo – Mubasher: Egyptian Financial Group Hermes Holding (EFG Hermes) is considering expansion into Latin America by 2019, Almal News reported, citing head of research at the company Ahmed Shams.
The Egypt-based investment bank will open representative offices in the Latin American countries to serve clients there, Shams highlighted.
The bank targets emerging markets in these countries as growth rate there ranges between 5-6% annually, he noted.
EFG Hermes currently operates in Egypt, Saudi Arabia, the UAE, Kuwait, Jordan, Lebanon, Oman, Pakistan, Kenya, and the US.
The bank’s capital amounts to EGP 3.07 billion distributed over 614.8 million shares at a par value of EGP 5 per share.
