Cairo – Mubasher: The Egyptian Financial Group Hermes Holding (EFG Hermes) achieved a consolidated net profit of EGP 1.30 billion in 2020, down by 5.3% year-on-year (YoY) from EGP 1.37 billion.

The profits attributable to minority interests increased to EGP 35.32 million last year, compared to EGP 19.06 million a year earlier, according to a bourse disclosure on Wednesday.

Revenues rose to EGP 6.76 billion in 2020 from EGP 6.73 billion the year before.

As for standalone business, the company logged EGP 126.77 million in net profits last year, down from EGP 616 million in 2019.

The board of directors recommended a one-for-five bonus issue for 2020’s earnings.

During the first nine months of 2020, EFG Hermes posted net profits of EGP 849.8 million, down from EGP 1.04 billion in the corresponding period in 2019.