Arab Finance: Societe Arabe Internationale de Banque’s (SAIB) ordinary general meeting (OGM) has approved increasing the issued and paid-up capital via the issuance of bonus shares, as per a disclosure on September 13^th.

Accordingly, the capital will increase to $331.025 million from $157.5 million via the issuance of 17.353 bonus shares at a total value of $173.525 million.

The bank will distribute 1-for-1 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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