EFG Hermes

EFG Hermes completes AIB's acquisition terms

Mon, 11 Oct 2021 - 02:26 GMT

The extraordinary general assembly of the Arab Investment Bank approved on Sunday, Oct. 10, the subscription of the company and the subsidiary fund to increase the bank's capital.

EFG Hermes signs LE 750M sale, leaseback agreement with Misr Italia

Tue, 05 Oct 2021 - 01:59 GMT

Misr Italia will use the value mentioned in the agreement to refinance its commercial project “Garden 8 Mall” in New Cairo, which includes a group of retail brands and a chain of restaurants on an area of ​​47,000 square meters.

EFG Hermes' subsidiary invests €625M in Spanish renewable energy company

Mon, 04 Oct 2021 - 01:19 GMT

The company added that this capital contribution from Vortex Energy will allow Ignis to own and operate a growing share of the projects that it develops.

EFG Hermes completes purchase of 51% in AIB during Q3

Sun, 23 May 2021 - 04:25 GMT

However, CEO of Hermes refused to give details about the amount of liquidity available to the group, which is the largest investment bank in the Middle East.

Egypt's Sovereign Fund, EFG Hermes sign agreements for acquiring 76% of Arab Investment Bank

Thu, 20 May 2021 - 12:53 GMT

The acquisition will be structured as a capital increase that will increase the paid-in capital of the Bank to LE 5 billion, making it compliant with the regulatory requirements of the Egyptian Banking Law.

Fair value of "AiBank" in Hermes - Egypt's sovereign fund deal reaches LE 1.1B

Wed, 14 Apr 2021 - 01:49 GMT

EFG Hermes' share in the bank will become 51 percent, and the share of Egypt's sovereign fund through the Egypt Financial Services and Digital Transformation Sub-Fund, which is wholly owned by it, is 25 percent, while the National Investment Bank maintains 24 percent after the increase capital.

Egypt's Sovereign Fund subscribes to EFG Hermes’ Education Fund, partners up with GEMS to launch 2 Schools western Cairo

Wed, 31 Mar 2021 - 01:16 GMT

Minister of Planning and Economic Development Hala al-Said witnesses signing of MoUs between Sovereign Fund of Egypt on one hand and EFG Hermes and GEMS on the other hand. Press Photo

Acquisition deal of AiBank by EFG Hermes, Egypt's Sovereign Fund still not valued

Mon, 29 Mar 2021 - 04:01 GMT

This came in a statement issued by the company, Monday, in response to the stock market’s inquiries regarding the deal to acquire the financial group Hermes and Egypt's sovereign fund of a 76 percent stake in the Arab Investment Bank.

EFG Hermes issues 1st tranche of securitization bonds worth LE 700M for 3 companies

Tue, 12 Jan 2021 - 06:20 GMT

The company added in a statement today, Tuesday, that it played the role of the single-issue manager and financial advisor in the first issue amounting to LE 700 million.

EFG Hermes, GB Auto complete majority stake acquisition of Tokio Marine Egypt

Thu, 27 Aug 2020 - 03:10 GMT

EFG Hermes Finance and GB Capital will each hold a stake of 37.5 percent of the company. Tokio Marine Group, a world-renowned leader in insurance and reinsurance and the largest general insurer in Japan will own the remaining 25 percent.

EFG Hermes' consolidated profits decline 28% in 1st half of 2020

Tue, 18 Aug 2020 - 11:07 GMT

EFG Hermes' finacnial indicators revealed accomplishing revenues of LE 2.98 billion during the first six months of 2020, down from LE 3.16 billion during the same months of 2019.

Hermes to MENA: Hike in foreign currency reserve supports Egyptian pound against US dollar

Wed, 08 Jul 2020 - 04:15 GMT

In exclusive statements to MENA, Head of Research at EFG Hermes Ahmed Shams El Din said this is considered the first hike in foreign currency reserves since the outbreak of COVID-19 in March.

Hermes, Wealth Fund seek purchasing Arab Investment Bank

Wed, 24 Jun 2020 - 12:35 GMT

Under the deal, Hermes will own not less than 51 percent of the bank's capital while the fund will own not less than 25 percent.

Premium International's 2nd securitization bond issuance of LE 172B closed

Wed, 15 Apr 2020 - 03:18 GMT

EFG Hermes clarified that this comes as part of Premium International two-year program to issue LE 2 billion ($162 million), in securitisation bonds.

EFG Hermes partners with Betabs to establish e-payment company

Mon, 13 Apr 2020 - 05:17 GMT

"Betabs Egypt" is scheduled to create a new technology platform of its kind to provide electronic and digital payment services.

EFG Hermes' consolidated profits jump 44% in 1st half of 2019

Thu, 08 Aug 2019 - 02:59 GMT

During the second quarter of 2019, the company's profits surged to LE 306.5 million, compared to LE 213.5 million during the same quarter of 2018.

Egypt Education Fund oversubscribed with commitments of $119M: Hermes

Sun, 23 Dec 2018 - 03:16 GMT

EFG Hermes announced Egypt Education Fund focused on Egypt’s K-12 sector was oversubscribed with total commitments of $119 million in its first close.

Egypt's EFG Hermes considers move into insurance, mortgage sectors: CEO

Mon, 26 Nov 2018 - 10:25 GMT

Hermes is also looking to enter a new market in Asia or Africa within a year, Karim Awad told Reuters in an interview.

EFG Hermes accomplish profits of LE 767.16B in 9 months

Thu, 15 Nov 2018 - 03:50 GMT

Hermes financial indicators showed that the company reached standalone profits of LE 190.89 million, compared to LE 178.12 million, with an increase of 7.2 percent.

CIRA’s IPO on EGX worth LE 1.2B: Hermes

Mon, 01 Oct 2018 - 03:24 GMT

EFG Hermes acted as Sole sole Global global Coordinator coordinator and Bookrunner bookrunner on the transaction .