Two brokerage firms working in the Egyptian market have witnessed substantial leaps in May, bringing them into the top 10 list of best performing brokerages.
Prime Securities and Cairo Capital Securities both advanced by 13 positions each to break into the top 10.
The Financial Brokerage Group has, for the fifth consecutive month, maintained its first place position, achieving a total trading value of EGP 6.1bn. The group’s trading value accounted for 18.6% of the total market transactions, through 43,700 transactions.
Runner-up EFG Hermes Securities Brokerage rose one position compared to April, with a turnover of EGP 4.7bn, accounting for 22.8% market share of the total executions.
The Commercial International Brokerage Company came in third place, after executing transactions worth EGP 2.2bn. They accounted for 6.7% of the market’s transactions.
Prime Securities came fourth with a turnover of EGP 1.4bn. Shawkat El Maraghi, Managing Director of the Brokerage Sector in Prime Holding for Financial Investments, said the company aims to maintain its top ten ranking this year. This would be through a plan based on three aspects, including increasing its share of firm dealings.
He stressed that this would require fulfilling the second aspect, which would see support for the research department and raise its efficiency and the quality of its products. This would occur by adding distinctive elements to it, in addition to maintaining the company’s large share of individuals market. In mid-May, Prime acted as a broker in Cairo Three A’s acquisition of Egyptian Starch and Glucose Company.
Pharos Securities came fifth, with EGP 1.4bn in transactions, accounting for 4.3% of the market. It was followed by Arqam Securities Brokerage, which rose one rank over April, with transactions amounting to EGP 1.2bn.
Cairo Capital Securities advanced by 13 ranks over April, to come in seventh place, with transactions amounting to EGP 1.2bn. The firm accounted for 3.8% of the market’s business.
It was followed by Beltone Securities Brokerage in eighth place, with a value of EGP 1.17bn, as it acted as broker in the Suez Canal Bank’s $30.6m exit from the Middle East Oil Refining Company (MIDOR).
Pioneers Securities came in ninth place, with turnover of EGP 1.08bn. Mubasher International Securities Brokerage ranked tenth, accounting for 2.3% of the market’s transactions.
Ehab Rashad, Vice Chairperson of Mubasher Capital Holding, said the company is working on raising the quality of its customer services. This will occur through the addition of a range of programmes, including an electronic programme package that will be available following Financial Regulatory Authority (FRA) approval. This supports the company’s market share, whether retail or institutional clients.
Rashad added that the company is also awaiting the authority’s approval to open a new branch in Alexandria. Further branches will follow in other governorates subject to the end of the coronavirus pandemic.