ArabFinance: Credit Agricole Egypt (CIEB) decided to raise its issued capital to EGP 5 billion from EGP 1.24 billion, according to a statement filed to the Egyptian Exchange (EGX).

The capital increase amounts to EGP 3.756 billion distributed over 939.083 million bonus shares at a par value of EGP 4 per share.

Accordingly, the bank decided to distribute 3.0203655637-for-1 bonus shares (a ratio of 3.0203655637:1) as of December 30th, 2021, with the eligibility for shareholders until the trading session dated December 29th, 2021.

It is worth noting that the bank recorded a consolidated net income after tax stood at EGP 1.179 billion in the first nine months of 2021, up from EGP 1.036 billion in the year-ago period.

Launched in 1996 and listed on the EGX in 2006, Crdit Agricole has subsidiaries operating across Egypt, working on commercial and professional services, in addition to thrifts and mortgage finance.

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