EFG Hermes announces exit from Oman

Updated 4/11/2023 10:47:00 AM

Arab Finance: EFG Hermes has exited from Oman as part of its plan to simplify its operations, according to a statement on April 11th.

The exit is expected to have a slight impact on the company’s 2023 financial statements.

The move comes in light of EFG Hermes’ efforts to drive shareholders' value by optimizing its operations, reallocating resources, and improving the return on equity metric.

On January 17th, the firm expressed its intention to exit the Jordanian and Pakistani markets, along with an undisclosed third market.

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