Deals
Egyptian Bank EFG-Hermes Weighs South East Asian Acquisition
- Cairo-based investment bank currently operates in 12 markets
- Investment would be small, build market share from ground up
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EFG-Hermes Holding SAE is considering an expansion into South East Asia as Egypt’s biggest investment bank seeks to grow in emerging markets.
The Cairo-headquartered company, which operates in 12 countries, is “looking at potentially one or two” new markets this year, Chief Executive Officer Karim Awad said in an interview with Bloomberg Television in Dubai on Sunday. The investment won’t be “too big” and would involve “building market share from the ground up,” he said.