EFG Hermes’ Financial Brokerage Group (FBG) has maintained its top brokerage company ranking in April with a substantial trading value amounting to EGP 8.4bn. It accounted for 17.9% of the total market transactions for April.
The Commercial International Brokerage Company (CIBC) came second with EGP 5.5bn, representing a 12.1% market share. Hermes Securities Brokerage came third with an EGP 4.9bn trading value, and a 10.8% market share.
Pharos Securities Brokerage came in fourth place, after executing EGP 2.2bn of the total market turnover in April, with 4.8% of market transactions. Pioneers Securities ranked fifth with a total turnover of EGP 1.7bn, representing 3.7% of the market. Beltone Securities Brokerage came in sixth place, with a 3.7% market share through transactions worth EGP 1.7bn.
It was followed by Arqaam Securities Brokerage in seventh position with EGP 1.5bn worth of transactions and holding 3.3% of the market. Naeem Brokerage came in eighth place with operations worth EGP 1.46bn, representing 3.2% of the market. Meanwhile, HC Securities Brokerage ranked ninth with a 2.6% market share amounting to EGP 1.2bn.
Arabeya Online Securities was the tenth largest company ,with operations worth EGP 1.1bn, equivalent to 2.5% of the market.
Moataz Ashmawy, CEO of Arabia Online for Securities Trading, revealed that the high daily trading values, contributed to the high trading values over the fulla month.
The company acquired a large share of individual transactions, explaining that it also has a plan to raise its stake from institutional transactions in the coming months.
Ashmawy anticipates the market’s upward trend will continue in May, supported by the gradual improvement in the Egyptian economy’s performance. It will also see a recovery from the repercussions of the coronavirus (COVID-19) pandemic, and the state of investor panic that accompanied it.
