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EFG Hermes

EFG completes aiBank acquisition to become Egyptian Universal Bank

EFG Hermes will be taking control over aiBank in partnership with the Financial Services & Fintech sub-fund, a sub-fund owned by the Sovereign Fund of Egypt (TSFE)

AIB acquisition to finalize in Q3, Hermes in the market for stakes in startups

EFG Hermes and Sovereign Fund of Egypt’s (TSFE) acquisition of 51 percent of the capital of Arab Investment Bank (AIB) was approved by the cabinet last week

Cabinet approves of Sovereign Fund/EFG Hermes acquisition of AIB

The acquisition of 76 percent of AIB will increase the paid-in capital of the bank to LE 5 billion