Arab Finance: The Financial Regulatory Authority (FRA) agreed to publish the disclosure form on the decisions of Egyptian Gulf Bank’s (EG Bank) (EGBE) board of directors regarding the ordinary and extraordinary general meetings (OGM and EGM) to be held to endorse the company’s capital increase, according to a disclosure to the Egyptian Exchange (EGX) on August 4^th.

The board previously approved raising the company’s issued and paid-up capital by EGP 904.37 million, including a retained sum of EGP 525.509 million and EGP 378.868 million in distributable earnings.

The number of issued shares will be determined based on the US dollar exchange rate on the day of the issuance of the OGM’s resolutions.

EG Bank is engaged in the provision of corporate, retail, and investment banking services through a network of 16 branches located across Egypt.