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Egypt's EFG Hermes 9M net profit falls 18.8 pct -bourse
November 19, 2012 / 8:26 AM / 5 years ago

Egypt's EFG Hermes 9M net profit falls 18.8 pct -bourse

CAIRO, Nov 19 (Reuters) - EFG Hermes, Egypt’s biggest investment bank, reported an 18.8 percent decline in its net profit for the first nine months of 2012, the stock exchange said on Monday.

Consolidated net profit fell to 232.1 million Egyptian pounds ($38 million) from 286.0 million pounds in the first nine months of 2011.

The bank announced earlier this year it was planning a tie-up with Qatar’s QInvest. ($1 = 6.0998 Egyptian pounds) (Reporting by Patrick Werr)

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