Suez Canal Bank’s OGM OKs bonus shares disbursement

Updated 3/27/2022 10:44:04 AM

ArabFinanceSuez Canal Bank’s (CANA) ordinary general meeting (OGM) has approved the distribution of EGP 695.674 million in bonus shares, according to a filing to the Egyptian Exchange (EGX) on Sunday.

The announced amount is equivalent to the disbursement of a 0.239 bonus share for each original share.

It is noteworthy that Suez Canal Bank’s net profits after taxes rose to EGP 604.675 million in the full year ended December 31st 2021, from EGP 601.664 million in 2020.

Suez Canal Bank is an Egypt-based company engaged in providing corporate, retail, and investment banking products and services.

The bank's range of banking products includes direct and indirect finance, loans, social funds, deposits, savings, credit cards, issuance of letters of guarantee, and other Islamic banking services, in addition to technical, economic, financial, administrative, and consultative services.