Our Network

Register for our free newsletter

Latest News

EFG Hermes

Stalled Qatar deal leaves EFG Hermes in Limbo

Qatar Deal Leaves EFG Hermes In Limbo

Without the regulator's blessing, EFG has little option but to cut costs aggressively, writes Una Galani.

April 10, 2013 2:59
EFG-QInvest tie-up

EFG Hermes shareholders approve QInvest deal

Shareholders of EFG Hermes, Egypt's biggest investment bank, reaffirmed on Sunday their approval of a planned tie-up with Qatar's QInvest after demands by the regulator for more information on the deal were met, EFG said in a statement distributed by the stock exchange.

September 16, 2012 5:20
EFG-QInvest tie-up

Profits Egyptian bank EFG-Hermes second quarterly net profit down 66 percent

Income boosted last year by exceptional dividend; Analyst says few surprises in overall results; Assets under management declined 6 pct

August 15, 2012 5:12
EFG-QInvest tie-up

HSBC buys at least 5 percent of EFG Hermes

British bank HSBC has acquired a stake of at least 5 percent in EFG Hermes, the Middle East's biggest home-grown investment bank, Egypt's stock exchange said on Tuesday.

July 4, 2012 10:23
Egypt's EFG defends executives against graft charges

EFG Hermes suitor’s takeover approach stalls

An attempt by a group of Egyptian and Arab Gulf investors to buy the Middle East's biggest home-grown investment bank EFG Hermes has stalled after the consortium failed to secure enough EFG shares to challenge management.

July 2, 2012 3:47
EFG-QInvest tie-up

EFG Hermes says QInvest deal is legally binding

A tie-up between Egyptian investment bank EFG Hermes and Qatar'sQInvest, approved by EFG shareholders on June 2, is legally binding and can only be reversed through legal action, EFG said on Tuesday.

June 12, 2012 5:46
Naguib Sawiris

Qatar play for EFG Hermes stokes backlash in Egypt

The Gulf emirate's play for key assets of the region's preeminent investment bank has prompted a rival consortium, notably backed by billionaire Naguib Sawiris, to declare an interest in buying it outright. The Qatari deal was approved last week by shareholders, but in the current volatile situation anything can happen.

June 6, 2012 7:12
Egypt's EFG defends executives against graft charges

Buy-out group says Sawiris still backs EFG bid

Billionaire supported bid to rival Qatari tie-up; Planet IB consortium says it has firepower for takeover; CEO says could make hostile buy-out approach for EFG

June 6, 2012 11:49
Egypt's EFG defends executives against graft charges

Egypt’s EFG defends executives against graft charges

The Qatar-based directors of Syria International Islamic Bank (SIIB) resigned their roles at the behest of the Gulf Arab state's central bank, to comply with U.S. Treasury sanctions against the lender.

May 31, 2012 5:35
Shares in Egyptian Bank EFG Hermes Climb on Qatari Deal

Shares in Egyptian Bank EFG Hermes Climb on Qatari Deal

Shares in Egypt-based investment bank EFG Hermes rose on Monday following the announcement of an agreement with Qatar's QInvest to form a region-wide investment bank

May 7, 2012 3:27