{"id":622112,"date":"2018-11-27T04:21:50","date_gmt":"2018-11-27T04:21:50","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/27\/efg-hermes-aims-to-have-non-bank-financial-services-deliver-50-of-profits-by-2021\/"},"modified":"2018-11-27T04:21:50","modified_gmt":"2018-11-27T04:21:50","slug":"efg-hermes-aims-to-have-non-bank-financial-services-deliver-50-of-profits-by-2021","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/27\/efg-hermes-aims-to-have-non-bank-financial-services-deliver-50-of-profits-by-2021\/","title":{"rendered":"EFG Hermes aims to have non-bank financial services deliver 50% of profits by 2021"},"content":{"rendered":"

<\/a> EFG Hermes aims to have non-bank financial services deliver 50% of profits by 2021: <\/strong>EFG Hermes aims for non-banking financial services to account for 30% of its total profit by year-end and 50% by the end of 2021, CEO Karim Awad told Reuters<\/a>. The investment bank is looking to get into the insurance and mortgage finance businesses, but has yet to obtain regulatory approval, Awad said. Non-bank financial services contributed 20% of the group\u2019s 3Q2018 net profits<\/a>, up from 12% in the same quarter last year, the CEO said. Awad also EFG is looking to enter one more Asian or African market <\/strong>within the coming year, but said Morocco isn\u2019t currently in the firm\u2019s plans. EFG has recently opened outposts in frontier markets including Pakistan, Kenya and Bangladesh and has previously disclosed it is seeking an investment banking license in Nigeria<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

EFG Hermes aims to have non-bank financial services deliver 50% of profits by 2021: EFG Hermes aims for non-banking financial services to account for 30% of its total profit by year-end and 50% by the end of 2021, CEO Karim Awad told Reuters. The investment bank is looking to get into the insurance and mortgage […]<\/p>\n","protected":false},"author":1,"featured_media":622113,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[84,72,7087,595,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-622112","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-efg-hermes","tag-enterpriseam","tag-finance","tag-non-banking-financial-services","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"fb8d6d3f-83cf-454c-82a8-3fdb6e070345","order":"0","is_powered_by":true,"section_story_id":"b7bda5ca-eadd-4115-bdeb-d549a369b28e","story_type":"1","photo_url":"https:\/\/ent.news\/2018\/11\/779.jpg","photo_position":"above","related_issue":[622100],"teaser":"","voice_url":""},"yoast_head":"\nEFG Hermes aims to have non-bank financial services deliver 50% of profits by 2021 - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/11\/27\/efg-hermes-aims-to-have-non-bank-financial-services-deliver-50-of-profits-by-2021\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EFG Hermes aims to have non-bank financial services deliver 50% of profits by 2021\" \/>\n<meta property=\"og:description\" content=\"EFG Hermes aims to have non-bank financial services deliver 50% of profits by 2021: EFG Hermes aims for non-banking financial services to account for 30% of its total profit by year-end and 50% by the end of 2021, CEO Karim Awad told Reuters. 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EFG Hermes expects non-financial services to\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624712,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/17\/efg-eyes-entry-into-new-em-markets-growth-in-non-banking-financial-industry-and-investment-in-education-and-energy\/","url_meta":{"origin":622112,"position":1},"title":"EFG eyes entry into new EM markets, growth in non-banking financial industry, and investment in education and energy","author":"enterpriseam admin","date":"17 September 2018","format":false,"excerpt":"**#6 EFG eyes entry into new EM, sees growth in non-banking financial services: EFG Hermes is looking to enter one or two new emerging markets in the next two years as part of a plan to expand its footprint, Group CEO Karim Awad tells Al Mal in an interview. The\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":574076,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/08\/30\/efg-hermes-gb-capital-close-acquisition-of-majority-stake-in-tokio-marines-egypt-arm\/","url_meta":{"origin":622112,"position":2},"title":"EFG Hermes, GB Capital close acquisition of majority stake in Tokio Marine\u2019s Egypt arm","author":"enterpriseam admin","date":"30 August 2020","format":false,"excerpt":"M&A WATCH- EFG Hermes and GB Capital have closed their acquisition of 75% of Tokio Marine Egypt Family Takaful, the two companies said in a press release (pdf). The EGP 84.75 mn transaction gives each of EFG Finance and GB Capital a 37.5% stake in the life insurance company. Tokio\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/8\/234.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":602167,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/03\/20\/earnings-watch-efg-hermes-and-al-ezz-dekheila-steel-report-2018-results\/","url_meta":{"origin":622112,"position":3},"title":"Earnings watch: EFG-Hermes and Al Ezz Dekheila Steel report 2018 results","author":"enterpriseam admin","date":"20 March 2019","format":false,"excerpt":"EARNINGS WATCH- EFG Hermes is proposing an EGP 0.65 \/ share dividend for FY2018 pending approval of the financial service corporation\u2019s shareholders, the company said as it announced its 2018 earnings (pdf). The group reported net profit of EGP 1 bn on revenues of EGP 4.3 bn. Notably, its non-bank\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572230,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/16\/efg-and-gb-auto-to-complete-purchase-of-75-tokio-marine-egypt-in-2q2020\/","url_meta":{"origin":622112,"position":4},"title":"EFG and GB Auto to complete purchase of 75% Tokio Marine Egypt in 2Q2020","author":"enterpriseam admin","date":"16 June 2020","format":false,"excerpt":"M&A WATCH- EFG Hermes, GB Capital to close Tokio Marine majority stake acquisition before the month is out: A consortium of EFG Hermes and GB Auto\u2019s non-banking financial services arms will complete the purchase of 75% Tokio Marine Egypt Family Takaful in 2Q2020, which ends on 30 June, EFG Finance\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":645398,"url":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/19\/efg-hermes-buys-50-stake-in-fim-for-usd-21-5-mn\/","url_meta":{"origin":622112,"position":5},"title":"EFG Hermes buys 50% stake in FIM for USD 21.5 mn","author":"enterpriseam admin","date":"19 July 2017","format":false,"excerpt":"M&A WATCH- EFG Hermes announced it has entered \u201cinto definitive agreements to invest\u201d USD 21.5 mn in Frontier Investment Management (FIM). The transaction, once completed, will leave EFG Hermes owning a 50% stake in FIM, with the remaining half still owned by FIM\u2019s founder and CEO, Hedi Ben Mlouka. FIM\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/622112","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=622112"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/622112\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/622100"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/622113"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=622112"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=622112"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=622112"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=622112"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=622112"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}