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FINANCIAL NEWS
Egypt’s EFG-Hermes to distribute USD122mn to shareholders
13 Jun 2016
(MENAFN) Egypt’s EFG-Hermes plans to USD122 million to shareholders and step up its growth strategy after selling a 40 percent stake in Lebanese lender Credit Libanais.
Egypt’s largest investment bank will reward its shareholders in cash and share buybacks after having completed the USD310 million stake sale last week.
The bank will also pursuing plans to boost capital reserves at subsidiaries in the United Arab Emirates, Kuwait and possibly Saudi Arabia.
“We will be required to enhance capital structure, meet capital adequacy requirements and embrace opportunities as they appear by injecting capital in our subsidiaries,” EFG-Hermes said in a bourse statement.
More News
20 Jul 2025
CBB approves the transfer of the retail banking operations of HSBC Bank Middle East, Bahrain Branch to BBK
02 Jul 2025
BBK launches the largest-ever Al Hayrat Prizes, offering BD 5 million to over 2,000 winners
12 May 2025
Alsharifi: “Proud of our strategic partnership with the Royal Humanitarian Foundation”
04 May 2025
BBK offers exclusive Mortgage Loans for luxury villas and apartments on Reef Island
30 Apr 2025
BBK discloses its financial results for the first quarter ended 31st March 2025
25 Mar 2025
BBK’s General Assembly Approves 35% Cash Dividend Distribution to Shareholders
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