Home
Loading...
You are here:  Home  >  Business  >  Current Article

EFG seeks to increase assets under management in Egypt

  /   1 Comment   /   234 Views

Reuters – EFG Hermes, one of the largest investment banks in the Middle East, is seeking to expand its assets under management in Egypt by 25% this year, a senior executive said on Tuesday.

Nabil Moussa, head of asset management for EFG in Egypt, told reporters that of the $3bn in assets the bank manages in the region, $1.9bn is under management in Egypt, while the rest is managed from Dubai.

Moussa said the return on their equity funds in Egypt was between 25 and 30% last year, compared with 45% in 2012.

But he said the company was “cautiously optimistic” that political stability was taking root in Egypt, saying the firm would increase its investments.


You might also like...

EGP 70bn required for completion of water and wastewater infrastructure: HCWW chairman

Read More →