Cairo – Mubasher: EFG-Hermes Holding is looking to expand into South East Asia as part of its growth in emerging markets plan, the firm’s CEO said on Sunday.
Egypt’s biggest investment bank is considering one or two new markets this year, Karim Awad told Bloomberg Television in an interview in Dubai.
The investment would not be major and it would involve “building market share from the ground up,” Awad said.
In July 2018, EFG-Hermes had acquired Nigeria-based Primera Africa Securities Ltd as part of its broader African expansion in a bid to use Nigeria as a regional hub.
The Cairo-based investment bank, which operates in 12 countries, is looking to focus on consolidation in its recently entered markets, including those in Africa, Pakistan, and Bangladesh this year.
In November, CEO of EFG-Hermes’ frontier unit Ali Khalpey said that the company was considering an expansion opportunity in Vietnam.
