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Company News

Egypt's EFG Hermes net profit increases by 18% in Q3 year-on-year

CAIRO, Nov 18 (Reuters) - Egypt’s EFG Hermes Holding net profit was 422 million Egyptian pounds ($27.07 million) in the third quarter of 2020, up 18% year-on-year, the investment bank said in a statement published by the stock exchange on Wednesday.

The net profit was calculated after deduction of taxes and minority rights.

The bank’s combined revenue was 1.4 billion Egyptian pounds in Q3, up 21% year-on-year, the statement added. ($1 = 15.5905 Egyptian pounds) (Reporting by Ehab Farouk; writing by Mahmoud Mourad; Editing by Louise Heavens)

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