21 February 2010
Egypt's National Société Générale Bank (NSGB) said its board of directors approved an increase in the bank's paid in capital by LE 333 million to reach LE 3,665.6 million.
Egypt's National Société Générale Bank (NSGB) said its board of directors approved an increase in the bank's paid in capital by LE 333 million to reach LE 3,665.6 million.
The increase will take place through a 1:10 stock dividend distribution, subject to the approval of the bank's assembly to be held on March 25.
NSGB's net profit rose 4.1 percent, the Egyptian stock exchange said on Thursday, beating analyst expectations. The bank's net profit was LE 1.18 billion ($215 million), up from LE 1.14 billion in 2008.
NSGB is owned more than 70 percent by Societe General of France.
© Daily News Egypt 2010
