Mubasher TV
Contact Us Advertising   العربية

EFG-Hermes gears up to start leasing business

EFG-Hermes gears up to start leasing business
Photo Credit: Arabianeye-Reuters
EFG Holding
HRHO
-2.49% 17.65 -0.45

Egyptian investment bank EFG Hermes said Tuesday it is preparing to start leasing business in its home country.

EFG will start the leasing business activity up on securing the approvals of all competent authorities, said a bourse statement.

EFG Hermes will focus on four major markets in 2015 Egypt, Saudi Arabia, UAE and Kuwait, the investment bank’s CEO Karim Awad said earlier.

EFG Hermes, the leading investment bank in the Mena region (Middle East and North Africa), operates within 12 regional markets, sorted between direct and indirect investments.

EFG also wants to expand its operations, which include brokerage, asset management and advisory services, in the Gulf region, and consolidate its leading position in its home market.

This includes listing companies on the Egyptian bourse, where it is currently advising Orascom Construction on its spin-off and dual-listing in Egypt and Dubai, and Emaar Misr, the Egyptian arm of Dubai developer Emaar Properties.