EFG Holding posts resilient Q1 ’25 results despite FX impact

EFG Holding has reported a mixed first quarter for 2025, with revenues of EGP5.6 bn, down 34 per cent year-on-year (YoY).

The decline reflects last year’s exceptional foreign exchange (FX) gains following a sharp Egyptian pound devaluation.

Adjusted for FX effects, revenues grew 31 per cent YoY, underscoring strong operational momentum across its core businesses.

Total operating expenses fell 29 per cent YoY to EGP3.5 bn, helped by lower employee costs and provisions.

Net profit after tax dropped 34 per cent YoY to EGP 1.2bn.

Karim Awad, group CEO, said, “Our Q1 results demonstrate the resilience of EFG Holding’s diversified platform despite cycling last year’s unusually high FX gains. When adjusted for these one-offs, our performance shows solid operational growth. Our Investment Banking division led landmark transactions in Saudi Arabia and the UAE, further cementing our regional leadership.”

EFG Hermes highlights

EFG Hermes, the investment banking arm, saw revenues decline 54 per cent YoY to EGP 2.9 bn due to FX impact, but rose 30 per cent YoY excluding FX. Sell-side and buy-side revenues grew 46 per cent and 50 per cent YoY, respectively.

Net profit fell 54 per cent to EGP 652 million.

EFG Finance, the non-bank fiinancial institutions platform, delivered a 23 per cent YoY revenue increase to EGP 1.3 bn, with net profit more than doubling to EGP297m.

Bank NXT, the commercial banking unit, posted 11 per cent revenue growth to EGP1.4bn and net profit increased 5 per cent to EGP498m, supported by higher interest income following rate hikes.

Awad added, “Our brokerage business is thriving in key markets like Kuwait and the UAE. We are advancing in private equity with the Saudi Education Fund and strengthening fintech through Valu’s growth and upcoming listing. We remain focused on strategic execution and sustainable value creation.”