Arab Today, arab today qatar\s qinvest efg hermes mull units merger
Last Updated : GMT 11:26:05
Arab Today, arab today
Arab Today, arab today

Qatar\'s QInvest, EFG Hermes mull units merger

Arab Today, arab today

Arab Today, arab today Qatar\'s QInvest, EFG Hermes mull units merger

Cairo - Arabstoday

Egyptian group EFG Hermes and Qatari Islamic investment bank QInvest are in talks about a possible merger of some operations to create an investment bank covering the Arab world, Africa, Turkey and south and southeast Asia. The venture would include securities brokerage, asset management and investment banking operations, but not EFG Hermes Private Equity, the two said on Monday. The proposed venture could be a boost to both companies, analysts said, with QInvest\'s wealth complementing the experience of EFG-Hermes, whose earnings were hit hard by last year\'s popular uprising in its home market. \"This makes strategic sense to do and is a win-win situation for both,\" said Haissam Arabi, chief executive and fund manager at Gulfmena Investments. \"Forming a mega investment bank is also in line with EFG\'s plans to become the region\'s largest bank.\" EFG Hermes, Egypt\'s biggest investment bank, has a market value of $1.08bn and runs offices in nine Arab countries. It also controls a 65 percent stake in privately owned Lebanese bank Credit Libanais, which it bought in 2010 for $542m. QInvest has a paid-up capital of $750m and offices in Qatar, Turkey and Saudi Arabia, its website says. Its shareholders include Qatar Islamic Bank, other institutional investors and high net worth individuals. EFG Hermes shares soared 9.4 percent, outperforming Egypt\'s benchmark index, which closed 1.1 percent lower. \"It\'s probably one of the better consolidation stories that have been announced in the MENA region since the crisis,\" said Mohammed Yasin, former chief investment officer at CAPM Investment. The joint statement by EFG-Hermes and QInvest gave few details on what the proposed investment bank might look like. \"We cannot comment on anything,\" EFG-Hermes\'s CEO Hassan Heikal said when contacted by telephone. Aybek Islamov, a banking analyst with HSBC, said the two banks could generate synergies through cross-selling, client sharing and by relying on each other\'s expertise and goodwill in various markets. \"The main question is the amount of capital EFG Hermes will commit to the venture and the returns they can generate on it,\" Islamov said. Analysts said the merger could help QInvest expand its client base outside Qatar, where low trading volumes and operating restrictions have helped slow the brokerage business. The statement by EFG Hermes and QInvest said the two institutions would assess potential synergies and if they reached an agreement, they would announce a general framework of a joint venture and a timetable for its implementation. \"Our primary objective in these discussions will be to create an investment banking platform that will play a vital role in the flow of foreign capital into the region,\" while enabling Arabs to invest in the region as well, the statement quoted EFG Hermes as saying.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today qatar\s qinvest efg hermes mull units merger Arab Today, arab today qatar\s qinvest efg hermes mull units merger

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today 11 family members dead in rebel push

GMT 07:57 2017 Tuesday ,21 February

11 family members dead in rebel push
Arab Today, arab today To probe sexual harassment claims

GMT 10:08 2017 Tuesday ,21 February

To probe sexual harassment claims
View News in Arabic - Business: مصارف
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Ahmed Fahmy stresses he did not ignore singing

GMT 06:34 2017 Sunday ,19 February

Ahmed Fahmy stresses he did not ignore singing
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 14:51 2017 Monday ,20 February

Ways to acquire presentation skills

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday