ArabFinance:Faisal Islamic Bank of Egypt will distribute 0.149 of a share for each one held, according to the company’s February 2ndstatement filed to the Egyptian Exchange.
The distribution of shares will be to recorded shareholders at the end of the February 21st session.
Faisal Bank will increase its issued capital from $440.19 million to $506.23 million (EGP 7.94 billion), based on the board's approval in March 2020.
The bank reported a 24% Year on Year decline in its standalone net profit in 2020, recording EGP 2.05 million.
Faisal Islamic Bank of Egypt is a financial institution that offers banking and investment services in accordance to Islamic Sharia principles through its head office and 27 branches located across the country.
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