Middle East Banks and Financial Services Firms take Center Stage at the London Stock Exchange
(London) – The London Stock Exchange (LSE) hosted yesterday the first Capital Markets Day for Banks and Financial Services companies from the Middle East and North Africa (MENA) region on Friday, 22 May 2009. The event was co-hosted by EFG-Hermes,* the leading investment bank in the Arab world.
Around 50 London-based institutional investors, emerging market funds and analysts as well as members of the media had the opportunity to meet one-on-one with C-suite executives from the MENA region’s most dynamic banks and financial services companies as they present their investment cases.
Companies presenting at the LSE this week included Commercial International Bank and EFG-Hermes (Egypt), Bank Audi and Blom Bank (Lebanon), Burgan Bank and KIPCO (Kuwait), and the National Bank of Abu Dhabi and Dubai Islamic Bank (United Arab Emirates).
“The LSE event has been a unique opportunity for regional businesses to make known their 2009 investment strategies to the international community in light of the current economic conditions,” says Sherif Cararah, EFG-Hermes Securities Brokerage Managing Director. “Meanwhile, London-based investors have been reminded that our region’s banking and financial services sector is very robust, with little-to-no exposure to toxic assets, generally more-than-safe ratios of loans to deposits and a market that is still largely under-banked.”
Investors were drawn from the ranks of global generalists, financial-sector specialists as well as funds specializing in Africa and the Middle East.
Due to strong interest from these global and regional investors for individual meetings with presenters, the group meetings and main sessions have been replaced by the one-on-one meetings, which have been set to start earlier on the two day event.
The event is the latest to emerge from EFG-Hermes’ partnership with the LSE. In November 2008, a large number of investors representing funds from the United Kingdom, Germany, Greece and the United States attended the LSE’s first Egypt Capital Markets Day.
In addition to the LSE events, EFG-Hermes also hosted the annual EFG-Hermes One-on-One in Sharm El-Sheikh, at which MENA companies present to global investors; a MENA Trip in six countries over seven days; and regular field visits to companies across the Arab world.
About EFG-Hermes Securities Brokerage
EFG-Hermes Securities Brokerage enjoys market leadership in five direct markets and six indirect markets throughout the Middle East and North Africa. The firm’s direct presence in Egypt, UAE, Saudi Arabia, Oman and Kuwait allows it to provide an unparalleled diversity of products and services to more than 26,000 retail and high-net-worth clients and over 600 global institutional investors.
The group has consistently maintained its position as the highest-ranking securities brokerage in Egypt by market volume. In the UAE, it was ranked number one on the DFM and ADX in 2008 and has maintained a leading position on the DIFX. The firm in 2008 was ranked first among the 20 independent brokerage companies in Saudi Arabia, while in Kuwait and Oman it was among the top three brokers in spite of its having only recently established a physical presence in the two markets.
Notes for Editors:
Established in 1984, EFG-Hermes is the Arab world’s leading investment bank. The firm specializes in Investment Banking, Asset Management, Private Equity, Securities Brokerage and Research. With listings on both Egypt and London stock exchanges, EFG-Hermes currently boasts a market capitalization of around USD 1.4 billion.
Through its operations in Egypt, the UAE, the Kingdom of Saudi Arabia, Qatar, Lebanon, Kuwait and Oman — and with some 880 employees of more than 25 nationalities — EFG-Hermes serves a considerable and diversified client base from the Middle East and North Africa to Europe, Asia and the United States. Our clients include governments, corporations, financial institutions, high-net-worth individuals and retail customers.