the past few years our portfolio strategy has focussed on the
pursuit of critical mass:the creation and build up of entities,
of a scale sufficient to take full advantage of economies of
scale at a national level, as a prelude to MENA regionalization;
our own scale version of globalization.
that standpoint the alliance of CIIC and EFG-Hermes, the two
leading Financial Institutions represent a momentous event not
only for our respective institutions but for the country at
large.By combining and harnessing our respective strengths whether
human or financial, we have taken a major step towards fulfilling
our ambition to promote Cairo as a major regional financial
center. The outcome of the deal will result in a clear operational
delineation along the respective center of excellence and core
competence of each firm. It will deliver substantial leverage
and synergies.After simultaneous capital increases, the two
firms' pro forma combined capital base will exceed LE 1 billion.
In each field of activity the partnership garners a commanding
lead over competition.