The Banking Executive Magazine - November 2022 Issue

EFG Hermes’ EFG Hermes’ CONSOLIDATED PROFITS SLIP 2.6% YOY IN 9 MONTHS EFG Hermes Holding (HRHO) posted a 2.65% year-on-year (YoY) decline in consolidated profit attrib- utable to the parent company during the first nine months of 2022, ac- cording to the financial statements filed to the Egyptian Exchange (EGX) on November 16th. The company’s consolidated profit excluding minority interest de- creased to EGP 1.026 billion in the nine months to September 30th from EGP 1.054 billion in the same period a year earlier. Net interest income soared to EGP 2.535 billion in January-September from EGP 1.769 billion in the com- parative period of 2021. Furthermore, the company’s stand- alone net profit after tax surged to EGP 3.24 billion in the January to September period from EGP 126.614 million in the same period last year. EFG Hermes is a leading financial services company in Egypt listed on the Egyptian Exchange (EGX), with a presence in 13 countries, including the UAE, Saudi Arabia, Kuwait, Jor- dan, Oman, and Pakistan. ISSUE 167 NOVEMBER 2022 the BANKING EXECUTIVE 41