Cairo – Mubasher: Egyptian Financial Group Hermes Holding (EFG Hermes) on Tuesday announced that it has inaugurated a representative office in Bangladesh.
The new office will serve EFG Hermes’ clients in one of the world's most thriving markets, as Bangladesh Dhaka Stock Exchange Broad Index (DSEX) recorded a 23.93% growth last year, the bank highlighted in a filing to the Egyptian Exchange (EGX).
“Bangladesh is a key market as part of our drive to expand our representation in high-potential frontier emerging markets,” CEO of EFG Hermes Karim Awad said in a statement.
The Egyptian investment bank is considering expansion in Africa and Asia, in a bid to operate in a fresh additional market at least this year, he indicated.
In December 2017, Awad said that EFG Hermes was planning to boost non-financial services to 50% within 2020-2021.
The bank currently operates in Egypt, Saudi Arabia, the UAE, the US, Jordan, Lebanon, Kuwait, Oman, Kenya, and Pakistan.
EFG Hermes’ capital amounts to EGP 3.07 billion distributed over 614.8 million shares at a par value of EGP 5 per share.
