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EFG-Hermes Q1 profit up 20%
- Egypt: Wednesday, May 16 - 2007 at 15:32
Egypt-based EFG-Hermes has declared a profit of $43.6m for Q1 2007, an increase of 20% over the $36.3 earned in Q1 2006. Total revenue was up 23.2%, while operating revenue fell by 27% to $38.5m. The bank said operating revenue actually increased by 5%, despite a decline in regional stock markets, if the $15.9m banking fees related to its capital increase are removed from Q1 2006 operating revenues.
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James McInerney, News EditorWednesday, May 16 - 2007 at 15:32 UAE local time (GMT+4)
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This article was updated on Sat Jun 16 2007.
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