NBK-Egypt shareholders approve capital hike
Updated 4/21/2021 11:47:00 AM
ArabFinance: National Bank of Kuwait – Egypt’s (NBK-Egypt) (NBKE) extraordinary general assembly approved issued and paid-in capital increase by EGP 3.5 billion distributed on 350 million shares, according to the bank’s statement released on April 21st.
The bank will hike issued and paid-in capital to EGP 5 billion from EGP 1.5 billion. It will distribute 2.3 free share for every one held.
NBK-Egypt will also increase authorized capital to EGP 10 billion from EGP 2.5 billion, the statement highlighted.
Net profit of NBK-Egypt dipped to EGP 1.44 billion in 2020, compared to EGP 2.17 billion in 2019
NBK Egypt, formerly Al Watany Bank of Egypt SAE, is an Egypt-based public shareholding company engaged in the provision of corporate, retail, and investment banking services.
The bank’s financial services and products include trade finance, and commercial and residential mortgages, among others.
