EFG-Hermes Third-Quarter Profit Climbs After Real Estate Sale - Bloomberg

EFG-Hermes Third-Quarter Profit Climbs After Real Estate Sale - Bloomberg:

"EFG-Hermes Holding SAE, the biggest publicly traded Arab investment bank, said third-quarter profit rose 43 percent, boosted by the sale of its former headquarters.
Net income for the period through Sept. 30 rose to 63.8 million Egyptian Pounds ($9.3m) from 44.5 million pounds a year earlier, the Cairo-based bank said today in a statement. Investment bank revenue rose to 191 million pounds, boosted by a one-time gain of 24 million pounds from the real estate sale.
The bank, whose merger with Qatar’s Qinvest LLC collapsed earlier this year, is focusing on operations in Gulf Cooperation Council countries after saying political turmoil in its home market discouraged foreign investors."

'via Blog this'