EG Bank’s OGM thumps up to capital increase via bonus share distribution

Agence France-Presse (AFP)

Hence, the capital shall increase from $499.502 million to $510.106 million through the distribution of 10.604 million bonus shares, or 0.0212-for-1 bonus shares

Staff Writer, Arab Finance

March 25, 2024

PHOTO

The Egyptian Gulf Bank’s (EG Bank) ordinary general meeting (OGM) has approved raising the issued capital by $10.604 million via bonus share distribution, as per a disclosure on March 25th.

Hence, the capital shall increase from $499.502 million to $510.106 million through the distribution of 10.604 million bonus shares, or 0.0212-for-1 bonus shares.

On January 23rd, the bank posted a 74.6% year-on-year (YoY) increase in consolidated net profits after tax and non-controlling interest during 2023.

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

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