EFG Hermes’ consolidated profits slip 2.6% YoY in 9 months

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EFG Hermes Holding (HRHO) posted a 2.65% year-on-year (YoY) decline in consolidated profit attributable to the parent company during the first nine months of 2022, according to the financial statements filed to the Egyptian Exchange (EGX) on November 16th.

The company’s consolidated profit excluding minority interest decreased to EGP 1.026 billion in the nine months to September 30th from EGP 1.054 billion in the same period a year earlier.

Net interest income soared to EGP 2.535 billion in January-September from EGP 1.769 billion in the comparative period of 2021.

Furthermore, the company’s standalone net profit after tax surged to EGP 3.24 billion in the January to September period from EGP 126.614 million in the same period last year.

EFG Hermes is a leading financial services company in Egypt listed on the Egyptian Exchange (EGX), with a presence in 13 countries, including the UAE, Saudi Arabia, Kuwait, Jordan, Oman, and Pakistan.