EFG Hermes’ revenues rose to £E1.8bn ($264m) in 2012, up 8 per cent compared with the previous year.

Its investment bank revenues rose 4 per cent to £E694m as a result of increased capital market and treasury operations, which combined went up 26 per cent, while its commercial bank revenues rose 11 per cent to £E1.1bn.

EFG Hermes was the sole adviser to Orascom Telecom on its demerger in 2012 and that same year closed in a $510 million private placement for the Egyptian Refining Company, the largest equity raising in Egypt since 2007.

In addition, the division advised Al-Mokhtabar Laboratories on its merger with Al-Borg Group, the largest M&A transaction in the healthcare industry in the Arab world.