Amazon invests in EFG Hermes GDR’s, with a valuation of ValU reaching USD $235 million

 valU Consumer Finance  (valU), a fully-owned subsidiary of EFG Hermes Holding on Thursday entered into an agreement with Amazon for the Provision of Consumer Financing by valU as a Payment Method on amazon.eg (the Commercial Agreement). Pursuant to the terms of the Commercial Agreement, valU will make some of its consumer financing products available to eligible customers on amazon.eg, providing these customers the option to split the total cost of purchases into multiple payments by using valU. In connection with the entry into the Commercial Agreement, EFG Hermes and Amazon entered into an Option Agreement (the Transaction Agreement) whereby Amazon … Continue reading Amazon invests in EFG Hermes GDR’s, with a valuation of ValU reaching USD $235 million

Response Plus Holding PJSC unveils record 4th Quarter 2021 Financial Results

Net profit reached AED 65.01 million while revenues were AED 299.6 million end of year, Response Plus Holding PJSC (RPM), one of the leading providers of healthcare services in the United Arab Emirates, reports an impressive Q4 performance for the period ending 31st December 2021. Reporting a remarkable growth in its financials during the year 2021, the company, a unit of ADX-listed Alpha Dhabi (subsidiary of International Holding Company ‘IHC’) announces a net profit that reached AED 65.01 million AED from 40.01 million AED in the first nine months of 2021, reflecting the impact of the transformative change during the … Continue reading Response Plus Holding PJSC unveils record 4th Quarter 2021 Financial Results

Azimut Yachts Opens A New Embassy In Sweden 

The Tradition And Experience Of Marinmäklarna Ab At The Service Of Italian Yachting Excellence Azimut Yachts is proud to announce the brand’s collaboration with Marinmäklarna AB as its new dealer for Sweden. The company led by Niclas Sjögren, a point of reference for the most demanding Swedish owners who will be able to choose the construction excellence of Azimut Yachts, has over 30 years’ experience in the yacht business and offers numerous services to an extensive network of owners who have relied on its professional approach for years. Azimut Yachts appoints Marinmäklarna AB as the brand’s new dealer in Sweden, … Continue reading Azimut Yachts Opens A New Embassy In Sweden 

EFG Hermes Holding Concludes aiBANK Acquisition

The Firm is now a universal bank in Egypt with a market-leading investment banking platform in frontier emerging markets (FEM)   EFG Hermes Holding informed shareholders today that it has completed its transformation into an Egyptian universal bank with a market-leading frontier emerging markets (FEM) investment banking platform. The news comes as the Firm has finalized its acquisition of a 51% stake in the Arab Investment Bank (aiBANK), marking a strategic entry into the fast-growing and solid Egyptian commercial banking sector. The transaction will see EFG Hermes Holding assume control of aiBANK, with TSFE Financial Services & Fintech Subfund, a … Continue reading EFG Hermes Holding Concludes aiBANK Acquisition