Latest news with #BankNXT
Gulf Business
4 days ago
- Business
- Gulf Business
EFG Holding posts strong Q2 2025 growth driven by diversified performance
Karim Awad, group CEO, EFG Holding/Image: Supplied 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.'
bnok24
5 days ago
- Business
- bnok24
EFG Holding Preserves Growth Momentum, Demonstrating Resilient Performance in the Second Quarter Results of 2025
EFG Holding, a financial institution with a universal bank in Egypt and the leading investment bank in the Middle East and North Africa (MENA), announced today its results for the second quarter of 2025. The Group's revenues recorded a 21% Y-o-Y increase to reach EGP 6.1 billion, driven by strong results across all business lines, particularly EFG Finance, its non-bank financial institutions (NBFI) platform, and Bank NXT, its commercial bank The Group's total operating expenses (including provisions & ECL) increased 22% Y-o-Y to EGP 4.1 billion, on higher provisions & ECL, predominantly in EFG Finance, and higher other G&A expenses. Meanwhile, employee expenses were flat Y-o-Y With the increase in revenues surpassing the increase in expenses, EFG Holding's net operating profit and net profit before taxes increased 19% Y-o-Y and 21% Y-o-Y, respectively. Consequently, net profit after tax and minority interest inched up 2% Y-o-Y to reach EGP 802 million in 2Q25 Karim Awad, Group CEO of EFG Holding, commented, '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 USD 1 billion in the quarter EFG Hermes, the investment bank, maintained its resilient performance for the second quarter of the year, with Holding & Treasury Activities, Brokerage, and the Buy Side revenues collectively rising 131% Y-o-Y. Although the Investment Banking business continues to demonstrate solid performance this quarter, Y-o-Y revenues appear lower due to an exceptionally high base in the comparative period. Excluding this high base effect, the underlying performance of the advisory business remains robust and promising. Thus, EFG Hermes' operating revenues came flat Y-o-Y at EGP 2.7 billion. Holding & Treasury Activities recorded a strong rebound, generating EGP 397 million in revenues versus a loss of EGP 503 million in 2Q24. Brokerage revenues rose 25% Y-o-Y, driven by higher revenues generated particularly by Egypt, followed by Kuwait and the UAE markets. EFG Hermes operating expenses (including provisions & ECL) inched up 3% Y-o-Y to EGP 2.2 billion, on higher other G&A expenses, higher provisions & ECL, and despite lower employee expenses. EFG Hermes reported net profit after tax and minority interest of EGP 268 million, down 11% Y-o-Y, on lower profitability generated by the Investment Banking division EFG Finance, the Group's Non-Bank Financial Institutions (NBFI) platform, continued to deliver strong results in 2Q25, with its revenues surging 66% Y-o-Y to EGP 1.8 billion, supported by broad-based growth across all lines of business. Valu led the performance with a 71% Y-o-Y increase in revenues, driven by substantial securitization gains and higher net fees & commissions amid a rise in loan issuances, followed by Tanmeyah and Corp-Solutions, which continued its upward trajectory with Leasing's portfolio reaching EGP 17.7 billion in 1H25, increasing 102% Y-o-Y, fueled by targeted efforts to onboard large creditworthy clients. Valu issued EGP 4.7 billion worth of new loans in 2Q25, up 60% Y-o-Y. EFG Finance's operating expenses rose 82% Y-o-Y to EGP 1.2 billion, mainly due to inflation-driven G&A costs, higher provisions, increased employee expenses and one-time expenses related to Valu's listing. EFG Finance's net operating profit and net profit before taxes rose 39% Y-o-Y and 37% Y-o-Y, respectively, in 2Q25. However, net profit after tax and minority interest declined 15% Y-o-Y to EGP 230 million, due to higher minority interest charges following the distribution of Valu shares to EFG Holding's shareholders and the decline in EFG Holding's ownership from 95% to 67% Bank NXT, the commercial bank, delivered a strong performance, delivering 30% Y-o-Y revenue growth to reach EGP 1.6 billion in 2Q25. This was primarily driven by higher net interest income, in addition to an increase in interest-earning assets. Operating expenses, including provisions & ECL, rose 23% Y-o-Y to EGP 694 million in 2Q25, primarily due to higher salaries, as well as higher other G&A expenses, which were offset by a 27% decline in provisions and ECL. The Bank's net profit after tax and minority interest added 39% Y-o-Y to reach EGP 304 million in 2Q25, as revenue growth outpaced the growth in expenses '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 capitalize on emerging opportunities for the benefit of clients and shareholders alike,' concluded Awad Google News تابعونا على تابعونا على تطبيق نبض
Zawya
5 days ago
- Business
- Zawya
EFG Holding preserves growth momentum, demonstrating resilient performance in the second quarter results of 2025
Cairo: EFG Holding, a financial institution with a universal bank in Egypt and the leading investment bank in the Middle East and North Africa (MENA), announced today its results for the second quarter of 2025. The Group's revenues recorded a 21% Y-o-Y increase to reach EGP 6.1 billion, driven by strong results across all business lines, particularly EFG Finance, its non-bank financial institutions (NBFI) platform, and Bank NXT, its commercial bank. The Group's total operating expenses (including provisions & ECL) increased 22% Y-o-Y to EGP 4.1 billion, on higher provisions & ECL, predominantly in EFG Finance, and higher other G&A expenses. Meanwhile, employee expenses were flat Y-o-Y. With the increase in revenues surpassing the increase in expenses, EFG Holding's net operating profit and net profit before taxes increased 19% Y-o-Y and 21% Y-o-Y, respectively. Consequently, net profit after tax and minority interest inched up 2% Y-o-Y to reach EGP 802 million in 2Q25. Karim Awad, Group CEO of EFG Holding, commented, '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 USD 1 billion in the quarter. EFG Hermes, the investment bank, maintained its resilient performance for the second quarter of the year, with Holding & Treasury Activities, Brokerage, and the Buy Side revenues collectively rising 131% Y-o-Y. Although the Investment Banking business continues to demonstrate solid performance this quarter, Y-o-Y revenues appear lower due to an exceptionally high base in the comparative period. Excluding this high base effect, the underlying performance of the advisory business remains robust and promising. Thus, EFG Hermes' operating revenues came flat Y-o-Y at EGP 2.7 billion. Holding & Treasury Activities recorded a strong rebound, generating EGP 397 million in revenues versus a loss of EGP 503 million in 2Q24. Brokerage revenues rose 25% Y-o-Y, driven by higher revenues generated particularly by Egypt, followed by Kuwait and the UAE markets. EFG Hermes operating expenses (including provisions & ECL) inched up 3% Y-o-Y to EGP 2.2 billion, on higher other G&A expenses, higher provisions & ECL, and despite lower employee expenses. EFG Hermes reported net profit after tax and minority interest of EGP 268 million, down 11% Y-o-Y, on lower profitability generated by the Investment Banking division. EFG Finance, the Group's Non-Bank Financial Institutions (NBFI) platform, continued to deliver strong results in 2Q25, with its revenues surging 66% Y-o-Y to EGP 1.8 billion, supported by broad-based growth across all lines of business. Valu led the performance with a 71% Y-o-Y increase in revenues, driven by substantial securitization gains and higher net fees & commissions amid a rise in loan issuances, followed by Tanmeyah and Corp-Solutions, which continued its upward trajectory with Leasing's portfolio reaching EGP 17.7 billion in 1H25, increasing 102% Y-o-Y, fueled by targeted efforts to onboard large creditworthy clients. Valu issued EGP 4.7 billion worth of new loans in 2Q25, up 60% Y-o-Y. EFG Finance's operating expenses rose 82% Y-o-Y to EGP 1.2 billion, mainly due to inflation-driven G&A costs, higher provisions, increased employee expenses and one-time expenses related to Valu's listing. EFG Finance's net operating profit and net profit before taxes rose 39% Y-o-Y and 37% Y-o-Y, respectively, in 2Q25. However, net profit after tax and minority interest declined 15% Y-o-Y to EGP 230 million, due to higher minority interest charges following the distribution of Valu shares to EFG Holding's shareholders and the decline in EFG Holding's ownership from 95% to 67%. Bank NXT, the commercial bank, delivered a strong performance, delivering 30% Y-o-Y revenue growth to reach EGP 1.6 billion in 2Q25. This was primarily driven by higher net interest income, in addition to an increase in interest-earning assets. Operating expenses, including provisions & ECL, rose 23% Y-o-Y to EGP 694 million in 2Q25, primarily due to higher salaries, as well as higher other G&A expenses, which were offset by a 27% decline in provisions and ECL. The Bank's net profit after tax and minority interest added 39% Y-o-Y to reach EGP 304 million in 2Q25, as revenue growth outpaced the growth in expenses. '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 capitalize on emerging opportunities for the benefit of clients and shareholders alike,' concluded Awad. About EFG Holding EFG Holding (EGX: – LSE: EFGD) is a financial institution that boasts a remarkable 40-year legacy of success in seven countries spanning two continents. Operating within three distinct verticals the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes. EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a provider of innovative and integrated financial solutions for small business owners and entrepreneurs, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, Bedaya for mortgage finance, Kaf for insurance, and EFG Finance SMEs, which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt. Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Bahrain | Kenya | Nigeria Learn more about us at For further information, please contact: May El Gammal Group Chief Marketing & Communications Officer of EFG Holding melgammal@ Omar Salama Associate Director of Communications of EFG Holding osalama@
Zawya
19-06-2025
- Business
- Zawya
Bank NXT, UiPath team up to reinforce Egypt's banking digital transformation
Arab Finance: Bank NXT has signed a cooperation protocol with UiPath, a global leader in intelligent automation solutions, to accelerate the digital transformation of banking services, according to a press release In partnership with BMB Egypt, the two parties launched UiPath's platform to boost automation, improve operational efficiency, and develop the quality of banking services. This collaboration aligns with Bank NXT's commitment to achieving the highest levels of institutional performance, enhancing customer experience, and supporting the sustainable growth strategy. Hesham Daabes, Senior Group Head for Support at Bank NXT, stated that this agreement opened new horizons for advanced uses of the automation platform. It also maximizes the value of this cooperation by leveraging global models to reinforce Egypt's banking sector Ashraf El Zarka, Vice President and Managing Director, UiPath Middle East and Africa, said: 'With unwavering executive support, led by the CEO and leadership team, and a highly dedicated staff, the foundation for long-term innovation is firmly in place.' 'Phase one focuses on transforming back-office operations and enhancing customer interactions, laying the groundwork for flexible, customer-driven banking services. The future is bright, especially with agentic automation on the horizon,' he indicated. Mohamed Mossad, Director of Intelligent Automation and Data Analytics at BMB Egypt, added: 'We're confident that intelligent automation will drive transformation across Egypt's banking sector, ushering in an era of speed, innovation, and sustainable growth. We remain committed to scaling automation, adopting AI technologies, and helping our partners lead transformation, not just keep pace with it.' © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
bnok24
18-06-2025
- Business
- bnok24
Bank NXT Partners with UiPath and BMB Egypt to Accelerate Intelligent Automation and Bolster its Digital Transformation Strategy
Bank NXT, a leading provider of integrated retail and corporate banking solutions in Egypt has announced the signing of a cooperation protocol with UiPath, a global leader in intelligent automation solutions, in a strategic step toward digital transformation. The partnership, executed in collaboration with BMB Egypt, a global solutions provider, innovator and advisor working with top rated technology partners to empower businesses and organizations, through the finest quality of custom-made IT solutions, aims to implement UiPath's platform to accelerate automation, enhance operational efficiency, and elevate the quality of banking services This collaboration reflects Bank NXT's commitment to achieving the highest levels of institutional performance, improving customer experience, and supporting its broader digital transformation and sustainable growth strategy Hesham Daabes, Senior Group Head for Support at Bank NXT, expressed his pleasure in launching the UiPath platform in partnership with BMB Egypt to accelerate the digital transformation of banking services. He highlighted the fruitful outcomes of adopting innovative solutions through this collaboration, notably the enhancement of institutional performance in managing internal operations with efficiency, accuracy, and speed—aligning with the bank's vision for agile development and its commitment to delivering an exceptional customer experience. Daabes added that this agreement has opened new horizons for advanced uses of the world-leading automation platform and maximized the value of this partnership by leveraging global models to advance Egypt's banking sector. It also contributes to improving service quality, paving the way for continued innovation and growth in the future Ashraf El Zarka, Vice President and Managing Director, UiPath Middle East and Africa, said: 'We're excited to witness this landmark deployment of intelligent automation at Bank NXT—one of the fastest adoptions we've seen in the region. With unwavering executive support, led by the CEO and leadership team, and a highly dedicated staff, the foundation for long-term innovation is firmly in place. Phase one focuses on transforming back-office operations and enhancing customer interactions, laying the groundwork for flexible, customer-driven banking services. The future is bright, especially with agentic automation on the horizon Mohamed Mossad, Director of Intelligent Automation and Data Analytics at BMB Egypt, added: 'As a strategic partner in intelligent automation and artificial intelligence, we're proud to support Bank NXT in this pivotal project. From day one, the bank has demonstrated a forward-thinking approach, enabling seamless technology integration, faster product enablement, and real-time value delivery to internal teams. We're confident that intelligent automation will drive transformation across Egypt's banking sector, ushering in an era of speed, innovation, and sustainable growth. We remain committed to scaling automation, adopting AI technologies, and helping our partners lead transformation, not just keep pace with it Bank NXT is executing an ambitious roadmap to automate several key operations in the coming period. This initiative is designed to boost institutional performance, deliver genuine added value to customers, and reinforce the bank's leadership in banking innovation across Egypt Google News تابعونا على تابعونا على تطبيق نبض
