Tuesday 05, June 2012 by Robin Amlôt
EFG Hermes reports Q1 consolidated earnings of EGP 35 million
EFG Hermes released its consolidated financial results for the first quarter of 2012, reporting net profit after tax and minority of EGP 35 million on total consolidated operating revenues of EGP 433 million. Group revenues rose six per cent year-on-year, supported by a 10 per cent rise in the Commercial Bank revenue, which offset a one per cent decline in revenue from the Investment Bank, underscoring the importance of the Group’s universal banking strategy in challenging regional conditions.Revenues for the quarter split 62 per cent contributed by the Commercial Bank and 38 per cent by the Investment Bank.
