Egypt’s leading investment bank EFG-Hermes received approval from the Egyptian Exchange (EGX) to raise its issued capital from EGP 2.867 billion to EGP 3.3 billion.  

The capital increase of EGP 391.8 million will be effected through the distribution of bonus shares at 1.460-for-10 and will be financed from 2014 earnings

Meanwhile, the EGX gave a nod to increasing the company's authorised capital from EGP 3.2 billion to EGP 6 billion.

EFG posted net profits of EGP 706.98 million in 2014, against EGP 334.98 million in 2013.