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EFG Holding posts strong Q2 2025 growth driven by diversified performance

Total operating expenses, including provisions and expected credit losses (ECL), rose 22 per cent YoY

Gulf Business
Gulf Business

15 August, 2025

EFG Holding posts strong Q2 2025 growth driven by diversified performance
Karim Awad, group CEO, EFG Holding/Image: Supplied

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EFG Holding, a financial institution with a universal bank in Egypt and the leading investment bank in the Middle East and North Africa (MENA), reported a 21 per cent year-on-year (YoY) revenue increase in Q2 2025 to EGP6.1bn, supported by strong results across all business lines—particularly EFG Finance, its non-bank financial institutions (NBFI) platform, and Bank NXT, its commercial bank.

Total operating expenses, including provisions and expected credit losses (ECL), rose 22 per cent YoY to EGP4.1bn, driven by higher provisions—mainly in EFG Finance—and increased general and administrative (G&A) costs, while employee expenses remained flat. With revenue growth outpacing expense growth, net operating profit rose 19 per cent YoY and net profit before tax increased 21 per cent YoY. Net profit after tax and minority interest grew 2 per cent YoY to EGP802m.

Group CEO Karim Awad said: “Our second quarter results demonstrate the continued resilience and strength with which EFG Holding operates, supported by its diversified platform and strong geographic footprint. EFG Holding’s first half of 2025 has been defined by meaningful milestones and strong momentum. Foremost among these is Valu’s listing on the Egyptian Exchange (EGX) in June, complemented by Amazon’s decision to exercise its Option Agreement with EFG Holding to acquire a direct stake in Valu. The period’s financial results highlight the standout performance of EFG Finance, driven by Valu and Bank NXT. Our Asset Management platform continues to expand, with assets under management growing, while the Investment Banking division closed transactions totaling more than $1bn in the quarter.”

Business line performance

  • EFG Hermes posted flat revenues at EGP2.7bn, with a 131 per cent YoY increase in combined Holding & Treasury Activities, Brokerage, and Buy Side revenues. Holding & Treasury Activities rebounded to EGP397m from a loss of EGP503m in Q2 2024. Brokerage revenues rose 25 per cent YoY, led by Egypt, Kuwait, and UAE markets. Net profit after tax and minority interest fell 11% YoY to EGP268m, due to lower profitability in the Investment Banking division.

  • EFG Finance revenues surged 66 per cent YoY to EGP1.8bn, driven by broad-based growth. Valu led with a 71 per cent YoY revenue increase, fueled by securitisation gains, higher fees, and a 60% rise in loan issuances to EG4.7bn. Tanmeyah and Corp-Solutions also saw growth, with Leasing’s portfolio doubling to EGP17.7bn. Operating expenses jumped 82 per cent YoY to EGP1.2bn due to inflation-driven costs, higher provisions, increased staff costs, and one-time listing expenses. Net profit after tax and minority interest fell 15 per cent YoY to EGP230m, due to higher minority interest after Valu’s share distribution and reduced ownership from 95 per cent to 67 per cent.

  • Bank NXT delivered 30 per cent YoY revenue growth to EGP1.6bn, led by higher net interest income and interest-earning assets. Operating expenses rose 23 per cent YoY to EGP694m, offset by a 27 per cent decline in provisions and ECL. Net profit after tax and minority interest jumped 39 per cent YoY to EGP304m.

Awad concluded: “Amid ongoing geopolitical volatility and persistent macroeconomic headwinds, market dynamics across the MENA region remained varied, both in terms of liquidity and overall performance. Nonetheless, the Brokerage business delivered notable growth in total executions, driven primarily by robust activity in Kuwait and the UAE. Bank NXT continued to broaden its portfolio, diligently cultivating a strong base that will underpin future growth and generate lasting value. Anchored by a solid foundation, the firm is well-positioned to adeptly navigate changing market conditions and confidently capitalise on emerging opportunities for the benefit of clients and shareholders alike.”

UAE aviation sector soars in H1 2025 with 75.4 million passengers

Air traffic in the UAE recorded 531,000 movements in H1 2025, a 6.2 per cent rise compared with nearly 500,000 movements during the same period last year

Gulf Business
Gulf Business

15 August, 2025

UAE aviation sector soars in H1 2025 with 75.4 million passengers
Image: Getty Images/ For illustrative purposes

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The UAE’ civil aviation sector recorded notable growth across key indicators in H1 2025, with passenger traffic, air cargo, and air traffic movements showing solid results, according to a report by the state news agency (WAM).

Airports across the UAE handled 75.4 million passengers in H1 2025, up from 71.7 million in the same period last year, representing a 5 per cent increase. January recorded the highest monthly passenger volume, exceeding 13.7 million travellers.

UAE national carriers expanded their global network, launching flights to 15 new destinations across Europe, Asia, Africa, and the Middle East.

The new cities include locations in Russia, Czech Republic, Poland, Armenia, Kazakhstan, Vietnam, Cambodia, Turkey, Iran, Egypt, Croatia, and Ethiopia, further reinforcing the UAE’s status as a major international aviation hub.

Country’s competitiveness in the aviation sector is ‘rising’

Abdullah bin Touq Al Marri, Minister of Economy and Tourism and chairman of the General Civil Aviation Authority (GCAA), said, “The UAE continues to enhance its global and regional standing as an international aviation hub, posting unprecedented growth rates driven by innovative national initiatives and strategies. This has significantly strengthened the country’s competitiveness and leadership in this vital sector, which today represents a key pillar for driving economic growth, diversifying income sources, and supporting trade, tourism, investment, and job creation across all aviation-linked sectors.”

Saif Mohammed Al Suwaidi, DG of GCAA, added, “We are proud to continue achieving stable growth rates in both passenger and cargo traffic, supported by ambitious development projects to keep pace with this expansion. The total passenger handling capacity of the country’s airports now exceeds 160 million, and we are confident that the aviation sector will continue to play a pivotal role in supporting the national economy, boosting tourism and trade, and reinforcing the UAE’s position as a leading air transport hub regionally and globally.”

In detail, air traffic in the UAE recorded 531,000 movements in H1 2025, a 6.2 per cent rise compared with nearly 500,000 movements during the same period last year.

Riyadh, Jeddah, Kuwait, Mumbai, and Bahrain were the top five busiest destinations in terms of weekly flights.

Air cargo volumes surpassed 2.2 million tonnes, up 4.74 per cent year-on-year, with national carriers accounting for 67 per cent of total cargo traffic.

Read: DXB welcomes 46 million passengers in H1 2025

UAE introduces new passport rule: read details

The new policy, effective Monday, August 18, can be accessed via the authority’s smart services platform

Neesha Salian
Neesha Salian

15 August, 2025

UAE introduces new passport rule: read details
Image: Getty Images/ For illustrative purposes

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Emirati citizens will soon be allowed to renew their passports up to 12 months before expiry, according to an announcement on Thursday by the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP).

Previously, the window for passport renewal opened just six months before the passport’s expiration.

The new policy will take effect on Monday, August 18, and will be accessible through ICP’s smart services platform.

The UAE passport is rated among the most ‘strongest’ in the world

ICP chairman Ali Mohammed Al Shamsi said the change will improve citizens’ quality of life by enabling better planning for international travel, smoother completion of official transactions, and wider use of secure digital documents.

He also noted that the UAE passport — already among of the world’s strongest and most trusted — will further enhance its global standing under the updated system.

The reform aligns with the UAE’s broader “Zero Government Bureaucracy” initiative, aimed at reducing red tape and serving as a model for digital public services in the region and beyond.

Middle East businesses embrace AI-powered analytics to drive smarter decisions

Organisations are seeking both flexibility and AI readiness, combining intelligent automation with collaborative, enterprise-ready platforms

Rajiv Pillai
Rajiv Pillai

15 August, 2025

Middle East businesses embrace AI-powered analytics to drive smarter decisions
Karl Crowther, vice president at Alteryx MEA and APAC/Image: Supplied

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Across the Middle East, organisations are increasingly leveraging AI-powered analytics to boost operational efficiency and accelerate decision-making. Karl Crowther, vice president at Alteryx MEA and APAC, explains that modern analytics platforms are bridging the gap between governance, flexibility, and innovation.

“Traditionally, businesses have had to choose between governance, flexibility, and innovation, but that’s changing. Newer solutions now bring together low-code/no-code analytics, AI assistance, and strong governance in a single, centrally managed environment, allowing more teams to access insights securely and at scale,” Crowther says. “In fact, Alteryx research shows that 94 per cent of analysts say their role now directly influences strategic decisions.”

Future-proofing businesses with analytics and automation

As markets become more data-driven and digitally connected, analytics and automation are central to future-proofing businesses. “It’s no longer just about analyzing the past; it’s about scaling insights and acting on them in real time,” Crowther notes. Organisations are seeking both flexibility and AI readiness, combining intelligent automation with collaborative, enterprise-ready platforms to stay ahead of the rapid pace of AI innovation.

The public sector, he adds, is approaching analytics differently. “Governments in the region are using these tools to improve services, increase transparency, and make better decisions. For instance, Abu Dhabi plans to be the world’s first fully AI-native government across all digital services by 2027. As they adopt AI, there’s a strong focus on governance, security, and following regulations like GDPR.”

Upskilling for a data-fluent workforce

With demand for data fluency growing, organisations are taking a broader approach to upskilling, empowering entire teams rather than a handful of specialists. “Yet challenges like data integration and quality issues continue to slow progress, especially as businesses move to the cloud. In fact, our recent survey found that nearly half of data analysts cite data quality as their biggest obstacle. Organisations should make analytics more accessible and simplify data prep with AI-powered insights,” Crowther explains.

Building a strong data culture, he says, goes beyond technology. “The most successful companies are those that treat analytics as a core part of their decision-making DNA… One key practice we see is activating the entire decision-making ecosystem, from frontline analysts to senior managers, to build momentum across all levels of the organisation. Alteryx research, nine out of 10 respondents in the Middle East, including 93 per cent in the UAE, report that AI has significantly transformed their work in the past year. These companies also recognise that culture change isn’t instant. They celebrate small wins and use those early successes to spark broader adoption.”

Key trends shaping enterprise data strategies

Crowther highlights several trends shaping enterprise data strategies in EMEA, including the need to make data AI-ready while maintaining trust and governance. “As organisations work to unlock value from AI, they’re also confronting fragmented architectures, siloed data sources, and growing regulatory expectations like GDPR. In response, we’re seeing a shift toward more centralised, auditable data workflows where governance is built in from the start, not bolted on later.”

The democratisation of analytics is further changing the landscape. “By putting AI and insights into the hands of non-technical users, organisations are no longer reliant on small, centralised teams to unlock value from their data. This shift enables faster, more informed decision-making across departments… Companies that provide flexible, scalable tools, while maintaining transparency and control over how AI is used, are better positioned to adapt quickly to market shifts, drive innovation from the ground up, and turn data into a competitive advantage,” Crowther says.

Real-world impact across industries

Alteryx-powered analytics are delivering measurable results across sectors in the region. Crowther points to the financial services industry as an example: “One standout example is Bank al Etihad in Jordan, which has seen a measurable impact from Alteryx-powered analytics. With a network of over 50 branches, the bank needed to streamline its manual data preparation and reporting processes, which previously took an average of two days per report using spreadsheets. By adopting Alteryx, the bank was able to automate these workflows, significantly improving reporting speed, accuracy, and responsiveness to ad hoc requests.”

Navigating ethical and regulatory considerations

As AI and automation become more embedded in business processes, ethical and regulatory considerations are critical. “Companies need to ensure that every data process is transparent, auditable, and aligned with both internal policies and external regulations like GDPR. This includes safeguarding personally identifiable information, removing proprietary IP, and involving legal and compliance teams early in the development and deployment of AI-driven solutions. Building trust with customers, regulators, and employees will be essential to unlocking long-term value from AI in a responsible and sustainable way,” Crowther advises.

Opportunities ahead

Looking forward, the Middle East and Africa present significant growth opportunities for analytics adoption. Crowther emphasises, “The biggest opportunities lie in making analytics more accessible, automating routine processes, and ensuring data is AI-ready and well-governed. What excites me most is how quickly the region is moving from early adoption to real impact, with analytics becoming a core part of how organisations operate and grow.”

With AI projected to contribute $100bn to the UAE’s GDP and $135.2bn to Saudi Arabia’s by 2030, businesses that embrace analytics, automation, and a data-driven culture are poised to transform operations, enhance decision-making, and gain a competitive edge.

Meraki Developers completes on-time handover of The Haven in Dubailand

The development features spacious layouts, premium interior finishes, and an array of lifestyle amenities

Gulf Business
Gulf Business

15 August, 2025

Meraki Developers completes on-time handover of The Haven in Dubailand
Image: Supplied

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Meraki Developers has announced the on-schedule handover of The Haven, a flagship residential community in Majan, Dubailand, reaffirming the company’s commitment to delivering high-quality homes on time. Designed to maximise living spaces with elegant, warm aesthetics, The Haven appeals to a diverse mix of residents, from young professionals to families.

Conceived as a modern urban retreat, The Haven combines contemporary architecture with a serene community setting. The development features spacious layouts, premium interior finishes, and an array of lifestyle amenities including wellness facilities, co-working spaces, separate adult and kids’ swimming pools, solar-powered parking, a party hall, recreation lounge, and indoor and outdoor children’s play areas.

His Excellency Eng. Marwan bin Ghalita, Director General of Dubai Municipality, said: “⁠The Haven reflects the kind of high-quality, design forward development that strengthens our city’s residential offerings and aligns with our vision for liveable, sustainable communities.”

Ajay Rajendran, founder and chairman of Meraki Group, said: “A home is one of life’s most meaningful investments as it is a place that shapes individuals, nurtures families, and strengthens communities. Every Meraki community is a testament to conscious design, refined living, lasting quality and a seamless journey that begins long before the keys are handed over. At Meraki, our vision is to create residences that not only provide comfort and pride of ownership but also enrich the spirit of those who live in them. With The Haven, we have sought to bring this vision to life, and I am deeply proud of the team behind this project and their unwavering dedication to excellence. We assure you of our commitment to deliver properties that stand out for their quality, elegance, and customer experience.”

Developed under Meraki’s fully integrated model—covering design, engineering, construction, and post-handover maintenance—The Haven reflects the developer’s holistic approach to quality and community-building.

The successful delivery further positions Meraki as a credible and ambitious player in the UAE’s residential market, committed to timely execution, visionary planning, and long-term value creation.

WHX Tech partners with HIMSS to offer CPHIMS certification in Dubai

All conference exam takers are required to complete the full exam application

Rajiv Pillai
Rajiv Pillai

15 August, 2025

WHX Tech partners with HIMSS to offer CPHIMS certification in Dubai
Image: WHX Tech Website

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WHX Tech, Informa’s dedicated platform for advancing digital health in the region, has announced an exclusive addition to its upcoming 2025 edition—a Certified Professional in Healthcare Information and Management Systems (CPHIMS®) Bootcamp and Exam in partnership with HIMSS.

Taking place from 8–10 September 2025 at Dubai World Trade Centre, WHX Tech brings together the region’s most influential digital health leaders, technology innovators, and healthcare decision-makers. The launch of the CPHIMS programme further reinforces WHX Tech’s commitment to transforming the healthcare landscape by investing in professional development and future-ready skills.

The CPHIMS certification is an internationally recognised credential that validates the expertise of professionals in healthcare information and management systems. Designed for experienced practitioners, the certification equips candidates to lead improvement in clinical outcomes by integrating IT, data, and business strategy in healthcare environments.

The WHX Tech offering includes a comprehensive certification package:

  • HIMSS CPHIMS Review Course – a self-paced, on-demand 6-hour course aligned with exam competencies
  • A two-hour onsite review session led by certified instructors immediately before the exam, covering content basics, test-taking strategies, and Q&A
  • An in-person CPHIMS exam administration, conducted in a Bring Your Own Device (BYOD) format – candidates must supply their own computer for the exam

As a note, all conference exam takers are required to complete the full exam application. After registration, candidates will receive an email within 5–7 business days containing a link to the application and detailed instructions. Access to the on-demand course will also be provided at that time.

To ensure proper delivery of materials and setup, registration will close on August 27, 2025.

“By hosting the CPHIMS Bootcamp and Exam onsite, WHX Tech empowers healthcare professionals in the region to validate their cross-functional capabilities at an international level,” said the WHX Tech organising team. “This initiative aligns with our mission to accelerate digital health transformation across the Middle East.”

Healthcare professionals interested in enhancing their credibility, advancing their careers, and leading digital transformation in their organsations are encouraged to apply. For details on eligibility requirements and the application process, visit HIMSS CPHIMS certification or contact [email protected].

By offering this globally recognised certification, WHX Tech is reinforcing its role as a regional catalyst for healthcare innovation, leadership, and learning.

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