Arab Finance: The board of directors of Societe Arabe Internationale de Banque (SAIB) has approved raising the issued and paid up capital of the bank to $331.025 million from $157.5 million through the distribution of 1-for-1 bonus shares, according to a statement filed to the Egyptian Exchange (EGX) on March 28th.

The bank indicated that the capital will be increased via the issuance of 17.35 million bonus shares, at a nominal value of $10 per share.

Established in 1976, SAIB Bank is engaged in the provision of retail, corporate, and investment banking products and services through a network of 21 branches located across Egypt and abroad. It also offers Islamic banking products and solutions through its branches.

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