Regional investment bank EFG Hermes said that EFG Hermes Securities Brokerage was ranked the number one broker in Egypt and the United Arab Emirates (combining the ADX and DFM), according to a statement.
In Egypt, Securities Brokerage maintained the number one spot with a 13.9 percent market share, while in the UAE the division took first place in Abu Dhabi, with a 10.9 percent market share, and second-place in Dubai, with a 6.3 percent market share, the firm said.
Securities Brokerage also took the second place ranking for Kuwait and third place in Oman, while posting strong market share performances in Qatar, with 6.18 percent, and Bahrain, 6.12 percent. In Saudi Arabia, EFG Hermes was ranked in third place among independent brokers in the Kingdom.
Securities Brokerage achieved progress in Jordan following its direct market entry through the acquisition of Tadawol, a local Jordanian brokerage house. In under six months, EFG Hermes jumped 35 places in the rankings, from the 50th spot to 15th in December, while closing the fourth quarter at number 21 overall with a 1.75 percent market share, the statement added.
