Faisal Islamic Bank of Egypt to increase the issued capital

The shareholders recorded on April 13th, are entitled to the dividends.

ArabFinance: Faisal Islamic Bank of Egypt(FAIT) decided to increase its issued and paid-up capital from $440,196,703 to $506,226,208.

O March 29th, the bank’s board of directors approved to increase the capital by EGP $66,029,505. The bank will distribute a 0.14999999897 free share for each original share.

The Bank announced distributing cash dividends of EGP 1.28332 ($0.08) per share payable on April 16th.

The shareholders recorded on April 13th, are entitled to the dividends.

The bank posted standalone net profits of EGP 2.714 billion, compared to EGP 2.519 billion in the same period a year ago.

Faisal Islamic Bank of Egypt is the first Egyptian Islamic and commercial bank. The Bank has officially started its operations on 5/7/1979. It was incorporated under Law No. 48 of 1977 which was then endorsed by the parliament and the bank was licensed as an economic and social institution taking the form of an Egyptian joint-stock company operating in compliance with the rulings of Islamic Shari'ah.

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