EFG-Hermes Holding SAE, the biggest publicly traded Arab investment bank, said second-quarter profit fell 45 percent because of the impact of Europe’s debt crisis on regional capital markets.
Net income was 97 million Egyptian pounds ($17 million) in the three months through June compared with 176 million pounds in the same period a year earlier, the Cairo-based firm said in an e-mailed statement. Total operating revenue fell to 346 million pounds from 383 million pounds, it added in the statement.
“The regional capital markets were affected by the global capital market turbulence onset by the Greek financial impasse,” it said.
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