Annual Report 2022

FUELING SYNERGIES
EFG Hermes Holding At a Glance
Boasting a remarkable track record of over 39 years, EFG Hermes Holding continues to be the leading partner of choice for regional and global clientele through its roster of financial offerings and solutions that unlock access to the markets’ most compelling prospects. Over the years, the Firm has successfully transformed its business model to be- come a full-fledged, impact-driven universal bank in Egypt, boasting the leading investment bank arm in Frontier and Emerging Markets (FEM).

Strategic Direction

EFG Hermes Holding continues to broaden its bespoke offering across its geographical foot- print through its three key verticals.

14
Countries in our geographic footprint
75
MENA and frontier emerging markets in our coverage
CHAIRPERSON’S FOREWORD

Despite the global headwinds witnessed in 2022

I reflect on the year with nothing but immense pride. EFG Hermes Holding achieved major milestones on a Group-wide scale, delivering outstanding financial and operational results across its core operations and lines of business and creating meaningful impact across its geographical footprint — a testament to the relentless efforts of our teams and the effectiveness of our adapted strategies.
Mona Zulficar

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Note From Our Group CEO

2022 was a year rife with external challenges for us as a Firm and the world over

The easing of pandemic-related constraints, the Russia-Ukraine war, inflationary pressures, and subsequent monetary tightening were just some of the factors shaping the global macro environment and, in turn, impacting the geographies in which we operate.
Karim Awad

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MANAGEMENT DISCUSSION AND ANALYSIS

EFG Hermes Holding recorded double-digit growth across its top and bottom lines in 2022,

primarily driven by the remarkable performance across its three operational verticals, the Investment Bank, the Non-Bank Financial Institutions (NBFI) platform, and the Commercial Bank.

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Investment Bank

EFG Hermes Holding offers its wide base of individual, institutional, and government-backed clients a comprehensive suite of advisory and capital management services in Frontier and Emerging Markets.

6.2 BNEGP
revenues in 2022
58 %
revenue growth in 2022
Sell-side
Sell - side
Sell-side
Sell - Side
Investment Banking
Securities Brokerage
Research
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Buy-side
Buy - side
Buy-side
Buy - Side
Asset Management
Private Equity
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Investment Bank

EFG Hermes Holding offers its wide base of individual, institutional, and government-backed clients a comprehensive suite of advisory and capital management services in Frontier and Emerging Markets.

6.2 BNEGP
revenues in 2022
58 %
revenue growth in 2022
Sell-side
Sell - side
Sell-side
Sell - Side
Investment Banking
Securities Brokerage
Research
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Buy-side
Buy - side
Buy-side
Buy - Side
Asset Management
Private Equity
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NBFI Platform

NBFI Platform

The NBFI platform is an end-to-end financial services ecosystem unlocking access to finance for people of all income levels and businesses of all sizes. Read More

2.5 BNEGP
revenues in 2022
28 %
revenue growth in 2022
Tanmeyah
Today, valU is ranked second in the consumer financing space in Egypt with a significant 20% increase in market share
Valu
Today, valU is ranked second in the consumer financing space in Egypt with a significant 20% increase in market share
PayTabs Egypt
Today, valU is ranked second in the consumer financing space in Egypt with a significant 20% increase in market share
Bedaya
Today, valU is ranked second in the consumer financing space in Egypt with a significant 20% increase in market share
Kaf
Today, valU is ranked second in the consumer financing space in Egypt with a significant 20% increase in market share
EFG EV
Today, valU is ranked second in the consumer financing space in Egypt with a significant 20% increase in market share
Tanmeyah
Today, valU is ranked second in the consumer financing space in Egypt with a significant 20% increase in market share
Valu
Today, valU is ranked second in the consumer financing space in Egypt with a significant 20% increase in market share
PayTabs Egypt
Today, valU is ranked second in the consumer financing space in Egypt with a significant 20% increase in market share
Bedaya
Today, valU is ranked second in the consumer financing space in Egypt with a significant 20% increase in market share
Kaf
Today, valU is ranked second in the consumer financing space in Egypt with a significant 20% increase in market share
EFG EV
Today, valU is ranked second in the consumer financing space in Egypt with a significant 20% increase in market share

NBFI Platform

NBFI Platform

The NBFI platform is an end-to-end financial services ecosystem unlocking access to finance for people of all income levels and businesses of all sizes. Read More

2.3 bn egp
Total financed
450 K
Transactions Completed
2.5 BNEGP
revenues in 2022
28%
revenue growth in 2022

Commercial Bank

Commercial Bank

aiBANK

aiBANK plays a vital role in providing retail banking services to individual clients and corporate debt services to a wide range of institutional clients.

1.8 BNEGP
net interest income in 2022
515 BNEGP
net profit in 2022, amounting to 14% of Group total

Our Controls

Our Controls

In line with global best practices, EFG Hermes Holding's prudent and cohesive frameworks ensure transparency and ethical running across the Group's lines of business, strategies, and processes.

11,549
registered shareholders
127
risk and compliance officers

Our Team

Our Team

2022 saw the introduction of our succession planning tool on Talent Central. Conceptualized to capture our revamped Succession Planning 2.0 framework, this tool has enabled a seamless, organized collection and analysis of all-important succession data needed to ensure the firm’s sustainability.

CORPORATE SOCIAL RESPONSIBILITY

EFG Hermes Holding continues to make strategic and responsible investments across key sectors that create massive impact across the board.

Financial Statements

We have audited the accompanying consolidated financial statements of EFG Hermes Holding Company which comprise the consolidated statement of financial position as of 31 December 2022, and the consolidated statements of income, comprehensive income, changes in equity and cash flows for the financial year then ended, and a summary of significant accounting policies and other explanatory notes.