Egypt News

The firm has also been named among Africa's top three Best Performing Brokers by Africa Investor magazine and Best Broker in Egypt by African Banker magazine at its gala awards ceremony in Istanbul.

Sherif Cararah, Managing Director of EFG Hermes Securities Brokerage said that "We are very pleased to have been named for these awards given the challenging investment climate that has dominated financial markets since the second half of 2008."

Cararah added, "We have maintained our lead because of our consistent efforts to deliver market-leading services to retail and institutional investors alike. We have done this by prioritizing expansion at the national level, as we have with our new retail points of presence in Egypt, for example, as well as by physically entering new markets such as Oman and Kuwait."

The result, Cararah says, is a platform that facilitates transactions and executions in five direct and six indirect markets across the region.

EFG Hermes Securities Brokerage has maintained a leading position on the Egyptian Exchange throughout 2009, securing a 40% share of total market transactions at mid-year with total trades up 126% from the previous quarter at LE43bn. Meanwhile, total executions across the firm's regional network jumped almost 170% to $22bn at the end of June 2009.

The firm's expansion of its retail presence, part of a plan that started in 2008, has seen three new branch locations open up across Egypt in 2009. In addition to serving as points of sale, the new branches allow the firm to offer continuing education courses for its clients, helping them learn new analytical techniques and make sound investment choices. At the same time, the number of users trading on the firm's online platform had grown 38.6% quarter-on-quarter at the end of June 2009.

emeaFinance magazine's second annual African Banking Achievement Award ceremony will be held on 9 December 2009 in London. EFG Hermes previously received the award for Best Investment Bank in Egypt in 2008.

EGYPT NEWS

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