2026 got off to a positive start for EFG Holding, part of the Latsis Group, as the group reported an 18% year-over-year increase in revenue, reaching 6.6 billion Egyptian pounds (approximately 107 million euros), supported by all three of its core business pillars.
Net operating profit and pre-tax profit rose by 20%, reaching 2.5 billion and 2.3 billion Egyptian pounds, respectively (approximately €40.5 million and €37.2 million), reflecting the group’s improved operating performance.
Net profit after taxes and minority interests stood at 1 billion Egyptian pounds, lower than the corresponding period last year, mainly due to increased taxes and minority interests. The group’s total assets amounted to 270.2 billion Egyptian pounds at the end of March 2026.
Total operating expenses, including provisions and expected credit losses (ECL), increased by 16% year-over-year to 4.1 billion Egyptian pounds. The increase is mainly attributed to higher administrative expenses due to persistent inflation in Egypt, increased activity at EFG Finance, and higher provisions resulting from the expansion of the loan portfolios of both EFG Finance and Bank NXT.
EFG Holding CEO Karim Awad described the start of the year as “stable,” noting that geopolitical pressures from the U.S.–Israel–Iran conflict affected the broader region during the latter part of the quarter. As he noted, the group continues to operate with a focus on maintaining operational profitability, prudent risk management, and sustainable growth.
The investment bank EFG Hermes recorded a 9% increase in revenue, to 3.1 billion Egyptian pounds, driven by Treasury and Holding activities, which benefited from foreign exchange gains following the devaluation of the Egyptian pound in March 2026. Net operating profit rose by 31% and pre-tax profit by 34%.
The non-bank financial services platform EFG Finance recorded a 20% increase in revenue, to 1.6 billion Egyptian pounds, with Valu serving as the key growth driver, as its revenue surged by 85% thanks to increased securitizations and loan issuances. However, profitability was significantly pressured due to increased provisions and foreign exchange losses.
Bank NXT also posted a particularly strong performance, with revenue rising by 34% to 1.9 billion Egyptian pounds, mainly due to a 53% increase in net interest income and robust credit expansion. Net profit after tax rose by 39% to 691 million Egyptian pounds.