Egypt’s EFG-Hermes H1 net profit rises 83.2 pct

Sherine El Madany
1 Min Read

CAIRO: Egyptian investment bank EFG-Hermes posted a 83.2 percent increase in first-half net profit to LE 580 million ($101.7 million) on Sunday.

The firm, Egypt’s largest listed investment bank, made LE 316.5 million in the same period a year earlier.

The figure implied a second-quarter net profit of LE 96.4 million based on calculations of previously reported first-quarter net profit of LE 483.6 million.

HSBC had forecast the firm’s net profit at LE 74 million and Bank of America Merrill Lynch had estimated it would be LE 87 million in a Reuters poll.

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