Investment Bank Prime Holding: Profit skyrockets by 512% in FY2014

Egypt-based investment bank Prime Holding announced Monday a 512 percent growth in net profit for the fiscal year ended December 31, 2014.

Prime’s net profit jumped to 30.6 million Egyptian pounds (US$4 million) for FY2014 from 5.1 million pounds ($0.668 million) for the previous year.

The company attributed 2014’s earnings growth to the increase of the operating revenues which reached 71.6 million pounds versus 34.9 million pounds for FY2013.