Managers of Wealth Africa

Egypt regulator approves Qatar bank's offer for NSGB

Qatar National Bank said in December it would buy a 77 percent stake in NSGB held by French bank Societe Generale.

Crédit Agricole Egypt 2012 net profit up 53 per cent

Crédit Agricole Egypt’s 2012 net income after taxation of EGP 472.3 million compares with EGP 308 million in 2011, representing an increase of 53.3 per cent.

EFG Hermes Asset Management Receives Top Honours at MENA Fund Manager Awards - English

The recognition that we have received from MENA Fund Manager is an honour

Credit Agricole Egypt reports full year net profits up 54 per cent

Net interest income for FY2012 in line with our forecast

Emirates NBD to buy BNP Paribas's Egypt business

Emirates NBD will simultaneously offer to acquire the remaining 4.8% of BNP Paribas Egypt from its minority shareholders at the same price.

EFG Hermes named Best Local Investment Bank in Egypt

The award is a reflection of the milestones achieved by the Investment Banking team despite a difficult political and economic climate.

SocGen nears sale of Egypt arm to QNB

Both parts of the acquisition combined will value all of NSGB at about $2.6 billion

EFG Hermes eyes Turkey, Iraq, Libya after sealing JV

EFG Hermes announced its tie-up with QInvest in May and the deal should close this month

Qatar National Bank picks JP Morgan for Egypt buy: sources

SocGen, which recently sold fund management unit TCW, is being advised by U.S. bank Morgan Stanley Inc on the transaction, a second source said.

EFG-Hermes Q2 net profit down 66pc

The bank, which is planning a tie-up with Qatar's QInvest, reported net profit of 80 million pounds a year earlier.

Policy of caution : Uncertain time for banking in Egypt

However, while the newly elected president may have been sworn in and taken over the office of head of state, deep uncertainty lingers over how stable the political environment will remain.

Global investment banking fee income falls 25%

The fees totalled nearly $14 billion in the second quarter, down from more than $18 billion in the first quarter of 2012. Year to date, fees have totalled $32 billion, down 25 percent from the same period in 2011.

EFG Hermes faces its own Arab Spring

The Cairo-based bank, founded in 1984, has seen its market value drop steeply since the turmoil of last year's uprising in Egypt.

EFG Hermes revenue up 6% year-on-year

Revenues for the quarter split as 62% contributed by the Commercial Bank and 38% by the Investment Bank.

EFG-Hermes rejects $1.1bn offer

EFG-Hermes, which operates in countries including Egypt, Saudi Arabia and the UAE, would extend its reach to Turkey and as far as Southeast Asia through the venture. Planet IB chief executive officer Ahmed El Houssieny may pursue a hostile takeover of EFG

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