EFG Holding successfully navigated a challenging second quarter, reporting a 7% year-on-year revenue increase to EGP 6.5 billion. While the firm’s investment banking arm, EFG Hermes, faced headwinds due to regional market volatility and currency fluctuations, these impacts were effectively mitigated by robust performances in other areas. Specifically, the company’s commercial banking unit, Bank NXT, saw revenues jump 30% to EGP 2.1 billion, while the non-bank financial services division, EFG Finance, grew by 15% to reach EGP 2 billion.

Despite these revenue gains, the group’s net profit after tax dipped slightly by 3% to EGP 776 million, influenced by non-cash losses within treasury activities. Group CEO Karim Awad emphasized that the firm’s diversified business model remains a critical buffer against macroeconomic uncertainty. Looking ahead, EFG Holding intends to prioritize disciplined cost management and balance sheet resilience while exploring new product offerings to bolster scalability. Both Bank NXT and EFG Finance continue to be key drivers of profitability, signaling a strategic shift toward a more balanced and multifaceted financial services provider.