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EFG Hermes completed its advisory role for Cherry Trading's IPO on the Saudi Exchange, offering 9 million shares at SAR 28 each, valuing the company at SAR 840 million. The IPO enhances market depth and supports scalable capital formation on Tadawul. EFG Hermes has advised on numerous regional transactions, highlighting its market leadership.
Find insight on Barclays, EFG International, the U.S. luxury housing market and more in the latest Market Talks covering Financial Services.
EFG International's shares are expected to rise by 4% in pre-market trading after the Swiss wealth manager announced its 2028 targets. The company aims for a 20% return on tangible equity by 2028, up from 15-18%, while maintaining a net asset growth rate of 4-6%. EFG also plans cost savings of 70-80 million Swiss francs over three years. Vontobel views the targets as a continuation of previous plans, with cost reductions aiding technology investments. EFG shares have risen 30% year-to-date.
EFG International reported a record 10-month net profit of 320 million Swiss francs, including a 45 million Swiss franc contribution from insurance recovery. The company targets 15% annual average net profit growth for 2026-2028 and aims for cost savings of 70-80 million Swiss francs by 2028 compared to 2025. EFG's net new assets in the first ten months of 2025 were 9.3 billion francs, surpassing its target annualized growth rate range of 4-6% at 6.8%.
EFG INTERNATIONAL AG :10M RECORD NET PROFIT OF APPROXIMATELY CHF 320 MILLION10M NET NEW ASSETS OF CHF 9.3 BILLIONREVENUE MARGIN WAS 99 BASIS POINTS FOR 10M25ASSETS UNDER MANAGEMENT TOTALLED APPROXIMATELY CHF 183.7 BILLION AT END-OCTOBER 2025COST/INCOME RATIO WAS 69.0% FOR 10M25CET1 RATIO OF 15.6%, A TOTAL CAPITAL RATIO OF 19.1% AND A LIQUIDITY COVERAGE RATIO OF APPROXIMATELY 219% AT END-OCTOBER 2025
