Cairo-Mubasher: Pharos Research set the fair value (FV) of EFG Hermes, a financial services corporation, at EGP 15.47, while maintaining “Add” recommendation, according to a report.
The company’s Q2-16 profits were negatively affected by taxes imposed on sale of Credit Libanais.
" The investment bank revenue increased 10% year-on-year to EGP 288 million in Q2-16, on the back of higher fees and commissions, which represents 94% of the total investment bank revenue," the report highlighted.
Profits fell to EGP 67.54 million in Q2-16, compared to EGP 177.48 million in Q2-15.
