Cairo – Mubasher: The Egyptian Financial Group Hermes Holding (EFG Hermes) reported a 215% year-on-year (YoY) leap in its net profits to EGP 312.13 million during the first quarter (Q1) of 2021, compared to EGP 98.92 million, including minority shareholders’ rights.

The revenues climbed to EGP 1.59 billion in the January-March period from EGP 1.11 billion in the corresponding period a year earlier, the company said in a bourse disclosure on Wednesday.

As for standalone business, EFG Hermes logged EGP 214.36 million in net profits in Q1-21, versus net losses of EGP 225.88 million in Q1-20.

In 2020, EFG Hermes achieved a consolidated net profit of EGP 1.30 billion, down from EGP 1.37 billion in 2019.