CIB’s OGM OKs capital increase
Updated 3/26/2024 10:43:00 AM
Arab Finance: The Commercial International Bank’s (CIB) ordinary general meeting (OGM) has approved raising the issued and paid-up capital by EGP 236.57 million distributed over 23.657 million shares at a par value of EGP 10 per share, as per a disclosure.
Accordingly, the capital will be upped to EGP 30.432 billion from EGP 30.195 billion.
Furthermore, the OGM has agreed to pay EGP 0.55 per share in dividends to shareholders for 2023.
It is worth mentioning that the bank reported an 84% year-on-year (YoY) growth in consolidated net profit after minority interest for 2023.
CIB, the leading private sector bank in Egypt, provides banking services across the country through more than 200 branches and units.
The bank's segments include corporate banking, investment banking, retail banking, treasury and capital market services, and others.
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