EFG Hermes Q2 profit plunges 66%

DUBAI - Egyptian financial services group EFG Hermes on Wednesday reported a 66 per cent decline in second-quarter net profit as revenue from its investment banking division fell due to a slump in capital markets and treasury activity.

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Published: Thu 16 Aug 2012, 10:23 PM

Last updated: Sat 4 Apr 2015, 7:24 AM

EFG’s second-quarter net profit tumbled to E£27 million ($4.5 million), from E£78.92 million, according to an emailed statement from the bank and figures from Zawya.com. The bank’s quarterly revenues inched two per cent higher to E£477 million compared to last year.

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