EFG Holding posts 18% revenue growth as Bank NXT outpaces

EFG Holding’s three businesses pulled in opposite directions in 1Q 2026. The group posted an 18% y-o-y revenue increase to EGP 6.6 bn, but net income after tax and minority interest fell to EGP 1.0 bn, as higher taxes and minority interest charges ate into an otherwise strong quarter, according to an earnings release (pdf). Total assets stood at EGP 270.2 bn at the end of March.

Bank NXT delivered 34% revenue growth y-o-y to EGP 1.9 bn and 39% y-o-y growth in net income to EGP 691 mn, driven by a 53% surge in net interest income as the loan book expanded.

EFG Finance revenues grew 20% y-o-y to EGP 1.6 bn, led by Valu’s 85% revenue jump on securitization gains and loan issuances. Net operating income fell 37% to EGP 276 mn and net income fell 47% to EGP 205 mn, on a 335% rise in provisions y-o-y plus non-operational FX losses at Finance Holding.

EFG Hermes’ revenues grew just 9% y-o-y to EGP 3.1 bn as sell-side eased and investment banking activity was lower against a strong 1Q 2025 base. Net income climbed 34% y-o-y to EGP 1.1 bn, largely on the back of unrealized gains on investments and FX gains following March’s EGP devaluation.

What they said: Group CEO Karim Awad called it a “solid start to 2026” but flagged that the US-Israel-Iran conflict “weighed on the broader region during the latter part of the quarter,” with the group focused on “disciplined execution and prudent risk management.”