November 28, 2021

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"Hermes Holding" becomes a comprehensive bank in Egypt

“Hermes Holding” becomes a comprehensive bank in Egypt

Today, EFG announced to shareholders that Hermes Holding has succeeded in transforming itself into a comprehensive bank in the Egyptian market and a leading investment bank in emerging and border markets. The conclusion of the agreement to acquire 51% of the Arab Investment Bank (aiBANK) is one of the strategic axes for entry into the banking services sector, which is trusted in the Egyptian market.
Under the agreement, EFG Hermes Holdings will direct the Arab Investment Bank (aiBANK), a subsidiary of EFG Hermes Holdings, a wholly owned subsidiary of the Egyptian Sovereign Fund, and the Egyptian subsidiary for digital services. 25% stake in the bank.

Commenting on the completion of this transaction, Karim Awad, CEO of EFG Hermes Holdings, said that concluding this important transaction with our esteemed partner, the Sovereign Fund of Egypt, would help transform our operations into a comprehensive banking base in Egypt. In addition to our services through investment banking and non-banking financial platform, commercial banking enhances our ability to offer a wide range of financial products and services to our personal and corporate clients in the local market.

For emerging and border markets, we will continue to provide leading investment banking services in Egypt and 12 countries, and will continue to maintain our leadership by maintaining a unique trading portfolio in all markets in which we operate. The Gulf Cooperation Council is proud of the company’s key role in concluding the most important regional agreements group in the world. Exchange and other influential transactions.

Avad pointed out that the acquisition of a majority stake in Arab Investment Bank (aiBANK) is another step towards building a strong institutional framework for the group to deal with the volatility of capital markets and enhance the possibility of integration. Between different departments of the company to provide a comprehensive set of products and services to our customers. He stressed that the company’s efforts to diversify its range of services have led to the expansion of its direct presence in 13 countries, allowing it to provide financial services to more than one billion people living and doing business in some of the fastest growing countries. Markets around the world. Pointing out that the addition of banking services to our services in the Egyptian market confirms the capability of EFG Hermes Holding, it is possible to offer integrated solutions of financial services to its customers through a single platform through its subsidiaries and the group’s unique brands.

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Over the past few years, EFG Hermes Holding has succeeded in transforming itself from a leading investment bank in the Middle East and North African markets to a comprehensive banking platform for providing financial services in the Egyptian market. Integrated portfolio of leading brands of banking services in emerging and leading markets. Today, the company offers its clients individual investors, firms and firms in a variety of markets, including stock investment, consulting services and research with a variety of investment solutions, including financial management where we invest. Renewable Energy (Rotary Energy), and public equities in the MENA and pre-final markets (EFG Hermes and FIM), the Department of Education (EEF Egyptian Education Fund) and start-ups (EFG EV Fintech).

In addition, the company provides its clients in the Egyptian market with Buy Now, Pay Later (PNPL) (Value), Microfinance (Danmia), Financial Leasing and Factoring (EFG Hermes Financial Solutions), Insurance (Coff Takaful). , And Electronic Payments (Betabs Egypt), and Real Estate Finance (Bedaya), and a comprehensive set of savings and financial services provided quickly by the company (aiBANK, an Arab investment bank).

In conclusion, EFG Hermes Holdings’ ability to integrate and integrate the various sectors of the company into its financial services network has seen significant growth in recent years as the company has been actively involved in the development of various sectors. Contribute to improving financial content and job creation in young and new markets. Awadh expressed his firm belief that the new business model adopted by the group would have a positive impact on its shareholders as it would create a clearer view of future profit margins and dividends. Opportunities to exit some subsidiaries.

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EFG Hermes Holdings in Numbers:
The company has direct presence in 13 countries across 4 continents
• The company executes a wide range of agreements in over 75 emerging and border markets, and the research services cover approximately 95% of MSCI Frontier and MSCI emerging border companies.
குழு The Group contributes to the creation of investments to enhance customer value by investing in a variety of sectors ranging from start-up companies to investing in the renewable energy sector.
• The By-Site Asset Management and Direct Investment divisions manage over $ 4 billion in assets in the private and public markets through the EFG Hermes brands Vortex Energy, the Egyptian Education Fund (EEF) and FIM.
F EFG Hermes Holding has a professional team of over 6,000 employees in Cairo, Dubai, Abu Dhabi, Riyadh, Muscat, Kuwait, Oman, Karachi, Dhaka, Hanoi, Nairobi, Abuja, London and New York.
F EFG Hermes Holdings has been in the top five of Bloomberg and Thomson Reuters / Refinitive Capital Markets since 2015.
The group’s research department tops the Institutional Investor Survey of the best research firms in the border markets for 2021.
F EFG Hermes Holding is enjoying a platform for non-bank financial services (NBFI) in the Egyptian market with a financing portfolio of 9 10.9 billion and has a leading market share and is one of the most important financial leasing companies under its umbrella. The largest factor companies in Egypt.

It also operates the Buy Now Pay Later (BNPL) site, which has won awards from major global companies, and (value) is trusted by its global brand partners including Amazon, IKEA, Uber and Apple. It is ranked fifth in Forbes’ rankings as one of the best financial services technology companies in the Middle East and North Africa region, while (Danmia) is Egypt’s largest private sector microfinance institution.

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