PHOTO
Cairo – Egypt’s Financial Regulatory Authority (FRA) has approved Commercial International Bank’s (CIB) capital increase, according to a bourse statement released on Thursday.
The bank’s capital increased by EGP 85.99 million, divided among 8.59 million shares, to EGP 14.77 billion.
The capital hike aims to release the shares distributed as part of the bank's employee incentive program in its eleventh year.
It is worth noting that over the nine-month period ended 30 September 2019, CIB’s profits rose to EGP 8.537 billion from EGP 7.019 billion a year earlier.
Source: Mubasher
All Rights Reserved - Mubasher Info © 2005 - 2020 Provided by SyndiGate Media Inc. (Syndigate.info).
Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.
