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Suez Canal Bank EGM to discuss term extension, authorized capital hike

Updated 9/21/2026 3:37:00 PM
Suez Canal Bank EGM to discuss term extension, authorized capital hike

Arab Finance: The board of Suez Canal Bank approved convening the extraordinary general meeting (EGM) on November 11 to consider the proposed amendments to Articles (5) and (6) of the lender’s Articles of Association, according to a bourse statement.

The proposed amendments include extending the bank’s term by an additional 50 years, starting from the expiry of its current term on March 12, 2028, through an amendment to Article 5.

Article 6 would also be amended to increase the authorized capital to EGP 25 billion from EGP 15 billion.

The board authorized the CEO and Managing Director to take all necessary measures to prepare for the EGM, finalize the draft resolutions on the agenda items, and complete the required procedures to amend the bank’s Articles of Association.

In the first half (H1) of 2026, the EGX-listed lender recorded 17.69% higher net profits after tax at EGP 3.628 billion, compared to EGP 3.083 billion.

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