March 28, 2018 / 7:32 AM / 3 months ago

BRIEF-EFG Hermes Says Unit EFG Hermes Factoring Receives License

March 28 (Reuters) - EFG HERMES HOLDINGS SAE:

* SAYS UNIT EFG HERMES FACTORING GETS LICENSE TO PROVIDE FACTORING SERVICES IN EGYPTIAN MARKET‍​

* SAYS NEW VENTURE EFG HERMES FACTORING IS SCHEDULED TO BE FULLY OPERATIONAL BY Q3 2018

* SAYS HAS ALLOCATED AN INITIAL EGP 250 MILLION TO OPERATE NEW VENTURE, WHICH FALLS UNDER UMBRELLA OF ITS NON-BANK FINANCE PLATFORM EFG FINANCE HOLDING Source text for Eikon: Further company coverage:

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