Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

EFG-Hermes Third-Quarter Profit Climbs After Real Estate Sale

EFG-Hermes Holding SAE, the biggest publicly traded Arab investment bank, said third-quarter profit rose 43 percent, boosted by the sale of its former headquarters.

Net income for the period through Sept. 30 rose to 63.8 million Egyptian Pounds ($9.3m) from 44.5 million pounds a year earlier, the Cairo-based bank said today in a statement. Investment bank revenue rose to 191 million pounds, boosted by a one-time gain of 24 million pounds from the real estate sale.

The bank, whose merger with Qatar’s Qinvest LLC collapsed earlier this year, is focusing on operations in Gulf Cooperation Council countries after saying political turmoil in its home market discouraged foreign investors.

EFG-Hermes said it has booked revenue from advising Dubai Group LLC on the $164 million sale of Dubai First to First Gulf Bank in the third quarter, while fees from the listing of BLME Holdings PLC on Nasdaq Dubai would be included in the fourth-quarter results.

The stock fell 1.4 percent to 8.02 pounds at 1:53 p.m. in Cairo compared to the benchmark EGX 30 Index’s 0.3 percent decline.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.