Daily News Egypt

FBG snaps brokerage ranking top spot in February with EGP 14.7bn trading value - Daily News Egypt

Advertising Area



Advertising Area

FBG snaps brokerage ranking top spot in February with EGP 14.7bn trading value

The Commercial International Brokerage Company (CIBC) came second with EGP 6.7bn, representing a 9.9% market share.


EFG Hermes’ Financial Brokerage Group (FBG) continued to occupy the top place among brokerage companies in February with a substantial trading value that amounted to EGP 14.7bn, individually accounting for 21.7% of the total market transactions last month. 

The Commercial International Brokerage Company (CIBC) came second with EGP 6.7bn, representing a 9.9% market share.

Pioneers Securities came third with EGP 4.7bn trading value and a 7% market share.

Pharos Securities Brokerage is in fourth place after executing EGP 3.8bn of the total market turnover last month, with 5.6% of total market transactions.

Beltone Securities Brokerage ranked fifth with a total turnover of EGP 3.7bn representing 5.5% of the market, a slight difference from Hermes Securities Brokerage, which came in sixth place with a 5.1% market share through transactions worth EGP 3.5bn.

It was followed by Arqaam Securities Brokerage in seventh position with EGP 3bn worth of transactions and holding 4.4% of the market.

Naeem Brokerage came in 8th place with operations worth EGP 2.42bn, representing 3.5% of the market.

Meanwhile, Sigma Securities Brokerage ranked ninth with a 3.2% market share for EGP 2.2bn.

Mubasher International for Securities was the tenth largest company with operations worth EGP 1.4bn equivalent to 2.1% of the market.

Amer Abdel-Qader, head of brokerage sector at Pioneers Holding, said he expects the stock market to change in the second half of the year as a result of a global correction movement in the markets, both locally and abroad. This is expected to attract a large purchasing power from foreign investors, motivated by the idea that history repeats itself, similarly to the recovery of the stock exchange in 2009.

He added that Pioneers is working on a marketing plan for individual and corporate sectors to maximise profitability and acquire a larger market share, in conjunction with the publicity campaign launched by the Egyptian Exchange, saying “crises create wealth.”

Abdel-Qader pointed out that the company implemented over-the-counter (OTC) operations for EGP 20m last month, however, they had no impact on its ranking throughout the month. He added that the company is trying to maintain its ranking inside the market, especially in such difficult circumstances.

Advertising Area



https://ww.dailynewssegypt.com/2020/03/01/fbg-snaps-brokerage-ranking-top-spot-in-february-with-egp-14-7bn-trading-value/
Breaking News

No current breaking news

Receive our daily newsletter
Subscribe